Visa Inc. (NYSE:V) Holdings Decreased by CCM Investment Advisers LLC

CCM Investment Advisers LLC trimmed its position in Visa Inc. (NYSE:V) by 15.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,172 shares of the credit-card processor’s stock after selling 8,367 shares during the quarter. Visa makes up approximately 1.9% of CCM Investment Advisers LLC’s holdings, making the stock its 21st largest position. CCM Investment Advisers LLC’s holdings in Visa were worth $15,831,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Visa during the 4th quarter worth $5,171,271,000. GAMMA Investing LLC grew its stake in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. grew its stake in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new position in Visa during the 4th quarter worth $1,955,403,000. Finally, Proficio Capital Partners LLC grew its stake in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. Truist Financial initiated coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating and a $400.00 price objective for the company. Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective for the company. UBS Group upped their price objective on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Susquehanna reissued a “positive” rating on shares of Visa in a research note on Friday, March 21st. Finally, BMO Capital Markets increased their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Trading Down 5.0%

Shares of Visa stock opened at $352.75 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market cap 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 fifty day simple moving average of $349.76 and a 200-day simple moving average of $337.45. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $9.57 billion. During the same quarter in the prior year, the firm posted $2.51 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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 $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s dividend payout ratio (DPR) is 23.72%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,448 shares of company stock worth $50,133,659 in the last quarter. 0.13% of the stock is owned by company insiders.

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.