Allspring Global Investments Holds $312.37 Million in Visa Inc.

Allspring Global Investments Holdings LLC has adjusted its investment in Visa Inc. (NYSE:V) during the third quarter, reducing its holdings by 13.8%. This institutional investor now possesses 1,136,102 shares of Visa after selling 181,178 shares within that period. Currently, Allspring’s investment in Visa is valued at approximately $312.37 million, based on their most recent filing with the SEC.

Additionally, a number of large investors have also been active with Visa shares recently. For instance, Westend Capital Management LLC entered a new position in Visa in the first quarter, valued around $25,000. POM Investment Strategies LLC significantly increased its holdings by an impressive 970% during the second quarter, now holding 107 shares valued at $28,000 after buying 97 additional shares. Similarly, TruNorth Capital Management LLC boosted its position in Visa by 211.9%, acquiring a total of 131 shares, worth around $34,000. Bbjs Financial Advisors LLC and CarsonAllaria Wealth Management Ltd. also procured new shares in the second quarter, each valued at about $35,000. In total, institutional investors and hedge funds own approximately 82.15% of Visa's stock.

Visa Performance Metrics

As of today, Visa's stock opened at $290.62. The stock exhibits a fifty-day simple moving average of $276.91 and a 200-day simple moving average of $272.88. Visa maintains a debt-to-equity ratio of 0.54, alongside a current and quick ratio of 1.37. The company boasts a market capitalization of $531.53 billion, with a price-to-earnings ratio of 32.47 and a P/E/G ratio of 2.00. Over the past year, Visa Inc. has recorded a low of $228.03 and a high of $293.07.

Visa's most recent quarterly earnings report was disclosed on July 23rd, revealing an earnings per share (EPS) of $2.42, aligning with analyst expectations. The reported revenue for the quarter was $8.90 billion, slightly below projections of $8.92 billion. The firm achieved a return on equity of 51.94% and a net margin of 54.72%. Compared to the same quarter the previous year, Visa's EPS rose from $2.16, indicating a 9.6% year-over-year revenue increase. Analysts anticipate that Visa will record an EPS of 9.92 for the current fiscal year.

Dividends and Shareholder Returns

Visa has also declared a recent quarterly dividend of $0.52 per share, which was paid out on September 3rd to shareholders recorded by August 9th. This dividend results in an annualized total of $2.08, translating to a dividend yield of 0.72%. Currently, Visa’s payout ratio stands at around 23.24%.

Insider Trading Activity

In related news, Visa’s CEO Ryan McInerney sold 8,620 shares of company stock on September 3rd, with an average selling price of $276.37 per share, culminating in a total transaction value of about $2.38 million. Following this sale, McInerney retains ownership of 538 shares, valued at approximately $148,687.06. This sale constituted a minimal decrease of 0.00% in his share ownership. Such transactions have been reported to the SEC.

Analyst Ratings and Predictions

Visa's stock has drawn extensive coverage from financial analysts. Citigroup recently adjusted its price target from $321 to $319 while affirming a “buy” rating. StockNews.com upgraded Visa from a “hold” to a “buy” rating, whereas Robert W. Baird raised its price target from $320 to $330, reinforcing its “outperform” stance. Macquarie maintained an “outperform” rating with a target price of $300. Similarly, Keefe, Bruyette & Woods lifted Visa from a “moderate buy” to a “strong-buy” recommendation. Currently, four analysts rate the stock as a hold, twenty-three endorse a buy, and two classify it as a strong buy. Analysis from MarketBeat indicates a consensus rating of “Moderate Buy” with an average price target of $314.19.

Company Overview

Visa Inc. operates globally as a payment technology company, providing various financial services including credit, debit, and prepaid card products. VisaNet, their transaction processing network, facilitates the authorization, clearing, and settlement of payment transactions. They also offer services like Visa Direct and Visa B2B Connect, among others, aimed at enhancing transaction efficiency and security.

Visa, Investments, Stocks