Independence Bank of Kentucky Purchases 3,112 Shares of Visa Inc. (NYSE:V)

Independence Bank of Kentucky raised its position in Visa Inc. (NYSE:V) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,168 shares of the credit-card processor’s stock after purchasing an additional 3,112 shares during the quarter. Visa accounts for about 1.6% of Independence Bank of Kentucky’s holdings, making the stock its 11th biggest holding. Independence Bank of Kentucky’s holdings in Visa were worth $7,470,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Brevan Howard Capital Management LP raised its position in shares of Visa by 186.2% during the fourth quarter. Brevan Howard Capital Management LP now owns 22,732 shares of the credit-card processor’s stock worth $5,918,000 after acquiring an additional 14,790 shares during the last quarter. Borer Denton & Associates Inc. increased its holdings in Visa by 1.1% in the fourth quarter. Borer Denton & Associates Inc. now owns 22,564 shares of the credit-card processor’s stock worth $5,875,000 after purchasing an additional 249 shares in the last quarter. Blue Grotto Capital LLC bought a new stake in Visa in the fourth quarter worth approximately $7,811,000. Biltmore Family Office LLC increased its holdings in Visa by 1.6% in the fourth quarter. Biltmore Family Office LLC now owns 5,418 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 85 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Visa in the fourth quarter worth approximately $5,624,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Piper Sandler reduced their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. TD Cowen reduced their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Oppenheimer began coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective for the company. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Visa Stock Performance

Shares of NYSE:V traded down $1.65 during midday trading on Friday, reaching $275.82. 232,613 shares of the company traded hands, compared to its average volume of 7,105,921. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The firm has a market capitalization of $502.63 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The firm’s fifty day moving average price is $273.94 and its two-hundred day moving average price is $272.75.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 22.25%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.