German American Bancorp Inc. Has $1.73 Million Holdings in Visa Inc. (NYSE:V)

German American Bancorp Inc. raised its stake in Visa Inc. (NYSE:V) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,276 shares of the credit-card processor’s stock after acquiring an additional 130 shares during the period. German American Bancorp Inc.’s holdings in Visa were worth $1,726,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $26,000. POM Investment Strategies LLC increased its holdings in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC bought a new position in shares of Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC bought a new position in Visa during the second quarter worth $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $307.39 on Thursday. Visa Inc. has a fifty-two week low of $250.03 and a fifty-two week high of $312.44. The firm’s fifty day moving average price is $288.57 and its 200-day moving average price is $276.84. The stock has a market cap of $560.16 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is currently 24.25%.

Analysts Set New Price Targets

Several equities analysts have issued reports on V shares. Royal Bank of Canada boosted their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Macquarie upped their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Finally, Piper Sandler upped their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company’s stock.

Visa Profile

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.