Visa Inc. (NYSE:V) Shares Sold by CCM Investment Advisers LLC

CCM Investment Advisers LLC lessened its position in Visa Inc. (NYSE:V) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,864 shares of the credit-card processor’s stock after selling 1,728 shares during the period. Visa makes up 1.7% of CCM Investment Advisers LLC’s portfolio, making the stock its 29th biggest position. CCM Investment Advisers LLC’s holdings in Visa were worth $14,810,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hilltop National Bank acquired a new stake in shares of Visa in the 1st quarter worth about $1,212,000. Absolute Capital Management LLC acquired a new position in Visa during the 1st quarter valued at about $404,000. Davidson Capital Management Inc. increased its stake in Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares during the period. Empirical Finance LLC increased its stake in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares during the period. Finally, Arjuna Capital increased its stake in Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group lowered their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer started coverage on shares of Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. Bank of America lifted their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. 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 note on Tuesday, September 3rd. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Visa Price Performance

Shares of V opened at $277.48 on Friday. The firm has a market cap of $505.65 billion, a PE ratio of 29.68, a PEG ratio of 1.92 and a beta of 0.96. The firm’s 50 day moving average price is $273.94 and its 200 day moving average price is $272.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 earnings per share. As a group, research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is 22.25%.

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.