CCM Investment Advisers LLC Decreases Stock Position in Visa Inc. (NYSE:V)

CCM Investment Advisers LLC lessened its position in shares of Visa Inc. (NYSE:V) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,592 shares of the credit-card processor’s stock after selling 221 shares during the period. Visa accounts for 1.7% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 23rd largest position. CCM Investment Advisers LLC’s holdings in Visa were worth $14,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new position in shares of Visa in the fourth quarter worth $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC purchased a new position in Visa during the fourth quarter valued at approximately $33,000. Finally, Abich Financial Wealth Management LLC increased its holdings in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Visa Stock Down 0.0 %

NYSE V traded down $0.02 during trading hours on Friday, reaching $259.81. 7,227,713 shares of the company’s stock traded hands, compared to its average volume of 7,072,978. The firm has a market cap of $473.45 billion, a PE ratio of 29.11, a PEG ratio of 1.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The firm has a 50-day simple moving average of $267.82 and a 200 day simple moving average of $273.97.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 quarter in the previous year, the business earned $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.80%. Visa’s payout ratio is currently 23.24%.

Analyst Ratings Changes

Several research firms have weighed in on V. Robert W. Baird raised their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Jefferies Financial Group cut their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley cut their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Piper Sandler dropped their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $307.25.

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.