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

CCM Investment Advisers LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,539 shares of the credit-card processor’s stock after selling 325 shares during the quarter. Visa comprises 1.9% of CCM Investment Advisers LLC’s holdings, making the stock its 18th biggest position. CCM Investment Advisers LLC’s holdings in Visa were worth $16,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Unionview LLC raised its position in Visa by 1.5% during the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after buying an additional 33 shares during the last quarter. FWG Holdings LLC increased its stake in shares of Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after acquiring an additional 34 shares during the period. St. Louis Trust Co raised its holdings in shares of Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after purchasing an additional 34 shares during the last quarter. Menard Financial Group LLC lifted its position in Visa by 0.6% during the third quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock valued at $1,709,000 after purchasing an additional 35 shares during the period. Finally, KMG Fiduciary Partners LLC boosted its holdings in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

V traded down $6.26 during trading on Friday, hitting $306.34. 2,186,116 shares of the stock were exchanged, compared to its average volume of 4,726,528. The firm has a market capitalization of $570.67 billion, a P/E ratio of 31.48, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61. The stock has a fifty day moving average price of $311.80 and a two-hundred day moving average price of $286.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Piper Sandler upped their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Susquehanna lifted their target price on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research report on Wednesday, December 11th. Oppenheimer upped their price target on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets lifted their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.85.

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.