Maple Capital Management Inc. Sells 164 Shares of Visa Inc. $V

Maple Capital Management Inc. decreased its holdings in shares of Visa Inc. (NYSE:V) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,774 shares of the credit-card processor’s stock after selling 164 shares during the period. Maple Capital Management Inc.’s holdings in Visa were worth $630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Northern Trust Corp grew its stake in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after purchasing an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on V shares. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of NYSE:V opened at $339.00 on Thursday. The firm has a market capitalization of $621.32 billion, a PE ratio of 33.20, a P/E/G ratio of 2.05 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $342.72 and a two-hundred day moving average price of $348.78. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. Equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is 23.11%.

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.