Allspring Global Investments Adjusts Visa Stock Position

Allspring Global Investments Holdings LLC has reduced its stake in Visa Inc. (NYSE:V) by 13.8% during the third quarter of 2024, according to recent reports. The firm now holds 1,136,102 shares after selling 181,178 shares during this period. As of the latest filing with the Securities and Exchange Commission (SEC), Allspring's investment in Visa is valued at approximately $312.37 million.

In addition to Allspring, various other institutional investors have also made changes to their positions in Visa. For instance, Westend Capital Management LLC initiated a new stake in Visa during the first quarter for about $25,000. Furthermore, POM Investment Strategies LLC expanded its holdings by an impressive 970.0% in the second quarter, now owning 107 shares valued at $28,000 following the acquisition of 97 additional shares.

TruNorth Capital Management LLC has similarly increased its stake by 211.9% in the second quarter, owning 131 shares now valued at $34,000 after a purchase of 89 additional shares. Bbjs Financial Advisors LLC and CarsonAllaria Wealth Management Ltd. each acquired new positions in Visa during the same time frame, both valued at approximately $35,000. Currently, institutional investors and hedge funds own around 82.15% of Visa Inc.'s stock.

Visa Stock Performance

As of Monday, Visa's shares opened at $290.62. The stock has a fifty-day simple moving average of $276.91 and a 200-day simple moving average of $272.88. Visa's financial metrics indicate a debt-to-equity ratio of 0.54, a current ratio of 1.37, and a quick ratio of 1.37. The company boasts a market capitalization of $531.53 billion and a price-to-earnings ratio of 32.47. Over the past year, Visa's stock has seen a low of $228.03 and a high of $293.07.

Visa's latest quarterly earnings report, released on July 23rd, indicated that the credit card processor achieved earnings per share (EPS) of $2.42, matching analysts' expectations. Revenue for the quarter stood at $8.90 billion, slightly below the anticipated $8.92 billion. The company's return on equity was impressively high at 51.94%, with a net margin of 54.72%. When compared to the same quarter last year, Visa's quarterly revenue increased by 9.6%. Analysts expect Visa Inc. to report earnings of 9.92 per share for the current fiscal year.

Recent Dividend Announcement

The company has recently declared a quarterly dividend which was paid out on September 3rd. Shareholders on record as of August 9th received a dividend payment of $0.52 per share. This results in an annualized dividend of $2.08, translating to a yield of 0.72%. Visa's payout ratio is currently 23.24%.

Insider Transactions at Visa

In other recent developments, Visa’s CEO, Ryan Mcinerney, sold 8,620 shares of the company stock on September 3rd for an average price of $276.37, totaling approximately $2.38 million. After the sale, he retains 538 shares valued at about $148,687.06, which represents a minor decrease in his stock ownership. This transaction was duly disclosed in a legal filing with the SEC.

Analyst Ratings on Visa

Visa has received various opinions from market analysts. Citigroup has lowered its price target for Visa from $321.00 to $319.00 while maintaining a “buy” rating. Conversely, StockNews.com upgraded Visa from a “hold” to a “buy” rating. Meanwhile, Robert W. Baird raised its price target from $320.00 to $330.00 and assigned an “outperform” rating. Several other analysts also reiterated their positive outlook, contributing to a consensus recommendation of “Moderate Buy” with an average price target of $314.19.

About Visa Inc.

Visa Inc. operates as a leading payment technology company both within the United States and globally. The firm runs VisaNet, a transaction processing network that facilitates payment transaction authorizations, clearings, and settlements. In addition, Visa offers an array of products including credit, debit, and prepaid cards along with a suite of digital payment services. Visa provides solutions aimed at improving transaction security and has dedicated services across various payment platforms, ensuring a comprehensive approach to modern transactions.

Allspring, Visa, Investments, Dividends, Earnings