Allspring Global Investments Holdings LLC Cuts Visa Stake to $312.37 Million

Allspring Global Investments Holdings LLC has recently made adjustments to its investment in Visa Inc. (NYSE:V), reducing its holdings by 13.8% during the third quarter of the year. This means that the institutional investor currently owns 1,136,102 shares of Visa's stock after selling 181,178 shares in that timeframe. According to its latest filing with the SEC, Allspring's investment in Visa is valued at approximately $312,372,000.

Other large investors have similarly restructured their positions regarding Visa recently. For instance, Westend Capital Management LLC entered a new position in Visa during the first quarter, amounting to about $25,000. Moreover, POM Investment Strategies LLC significantly increased its holdings by 970.0% in the second quarter, bringing their total to 107 shares valued at approximately $28,000 after an acquisition of 97 additional shares. TruNorth Capital Management LLC also expanded its investment by 211.9% within the same quarter, now owning 131 shares, worth around $34,000 after acquiring 89 more shares. Other firms, such as Bbjs Financial Advisors LLC and CarsonAllaria Wealth Management Ltd., have also made new investments in Visa, each valued at approximately $35,000. Overall, institutional investors and hedge funds own about 82.15% of Visa's stock.

Visa's Stock Performance Overview

As of Monday, Visa's shares opened at $290.62. The stock features a fifty-day simple moving average of $276.91 and a 200-day simple moving average of $272.88. Currently, Visa has a debt-to-equity ratio of 0.54, both a current and quick ratio of 1.37, and a market capitalization of $531.53 billion. The company's price-to-earnings ratio stands at 32.47, with a price-to-earnings-to-growth (P/E/G) ratio of 2.00. Visa's stock has fluctuated within a yearly range, recording a low of $228.03 and a high of $293.07 during the past year.

On July 23rd, Visa disclosed its quarterly earnings, reporting an earnings per share (EPS) of $2.42, matching analysts' expectations. Visa's revenue for the quarter amounted to $8.90 billion, slightly below the projected $8.92 billion. The company achieved a return on equity of 51.94% and a net margin of 54.72%. Compared to the same quarter last year, Visa's EPS improved from $2.16, with revenues witnessing a year-over-year rise of 9.6%. Analysts predict that Visa Inc. will post an EPS of 9.92 for the current fiscal year.

Visa's Dividend Declaration

Recently, Visa also announced a quarterly dividend, which was paid on September 3rd. The dividend payment of $0.52 per share was given to stockholders who were on record as of August 9th. This translates to an annualized dividend of $2.08 and implies a dividend yield of 0.72%. Currently, Visa's payout ratio is recorded at 23.24%.

Insights on Insider Transactions

In other recent news concerning Visa, CEO Ryan McInerney sold 8,620 shares on September 3rd for an average price of $276.37. The total value of the transaction was $2,382,309.40. Following this sale, the CEO’s remaining shares in the company are valued at approximately $148,687.06, representing no change in ownership percentage. This transaction was disclosed to the SEC, where further details are available. Currently, corporate insiders own about 0.19% of Visa's stock.

Analysts' Perspective on Visa

Visa has been the subject of several recent analyst reports. Citigroup lowered its price target on Visa from $321.00 to $319.00 while maintaining a “buy” rating. StockNews.com upgraded Visa from a “hold” status to a “buy” rating. Meanwhile, Robert W. Baird increased their price target for Visa from $320.00 to $330.00 and assigned an “outperform” rating. Macquarie also maintained an “outperform” rating, setting a target price of $300.00 for Visa shares. Additionally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” to a “strong-buy” rating. Among analysts, four have classified the stock as a hold, while twenty-three rate it as a buy and two as a strong buy. According to MarketBeat.com, Visa’s consensus rating is “Moderate Buy” with an average price target of $314.19.

About Visa Inc.

Visa Inc. operates as a payment technology company both domestically and internationally. The company maintains VisaNet, which is a network for transaction processing that allows for authorization, clearing, and settlement of payment transactions. Visa also provides a variety of products including credit, debit, and prepaid cards, as well as several digital payment services.

Investment, Visa, Stock