CCM Investment Advisers LLC Reduces Stock Holdings in Visa Inc. (NYSE:V)

CCM Investment Advisers LLC reduced its stake in Visa Inc. (NYSE:V) by 15.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,172 shares of the credit-card processor’s stock after selling 8,367 shares during the period. Visa accounts for about 1.9% of CCM Investment Advisers LLC’s holdings, making the stock its 21st biggest position. CCM Investment Advisers LLC’s holdings in Visa were worth $15,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa during the fourth quarter worth $306,000. Aptus Capital Advisors LLC lifted its holdings in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after purchasing an additional 30,185 shares during the period. King Wealth Management Group lifted its holdings in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after purchasing an additional 6,172 shares during the period. Eagle Strategies LLC lifted its holdings in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after purchasing an additional 63 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Visa during the fourth quarter worth $10,163,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,448 shares of company stock valued at $50,133,659. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on V shares. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Macquarie reduced their target price on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Susquehanna reissued a “positive” rating on shares of Visa in a report on Friday, March 21st. Finally, The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $372.80.

Visa Stock Down 5.0%

V opened at $352.75 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The stock has a market capitalization of $650.87 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The business has a 50-day moving average of $349.76 and a two-hundred day moving average of $337.45.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the previous year, the business earned $2.51 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Visa Company 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.