Allspring Global Investments Holdings LLC Adjusts Visa Stock Position

As of late October 2024, Allspring Global Investments Holdings LLC has reduced its stake in Visa Inc. (NYSE:V) by 13.8% during the third quarter. This adjustment means that the institutional investor now holds 1,136,102 shares of Visa after selling 181,178 shares during the period. Their investment in Visa is valued at approximately $312.37 million based on the latest filings with the SEC.

Other significant investors have also made changes to their positions in Visa recently. For example, Westend Capital Management LLC entered the Visa market for the first time in the first quarter, investing around $25,000. POM Investment Strategies LLC saw a massive increase of 970% in its Visa holdings during the second quarter, owning 107 shares valued at $28,000 after buying an additional 97 shares. Similarly, TruNorth Capital Management LLC raised its stake by 211.9% in the second quarter, now owning 131 shares valued at about $34,000.

Additionally, Bbjs Financial Advisors LLC and CarsonAllaria Wealth Management Ltd. both acquired new positions in Visa during the second quarter, also valued at around $35,000 each. Currently, institutional investors and hedge funds hold about 82.15% of Visa stock.

Visa's Financial Performance

On Monday, shares of Visa opened at $290.62. The stock’s fifty-day simple moving average is reported at $276.91, while the 200-day simple moving average stands at $272.88. Visa's financial health is indicated by its debt-to-equity ratio of 0.54, a current ratio of 1.37, and a quick ratio also at 1.37. The company has a substantial market capitalization of $531.53 billion and a price-to-earnings ratio of 32.47.

Recently, Visa announced its quarterly earnings on July 23rd, reporting earnings per share (EPS) of $2.42, which met the expectations set by analysts. The company generated $8.90 billion in revenue during the quarter, slightly below the anticipated $8.92 billion. Compared to the same quarter last year, Visa’s EPS increased from $2.16, illustrating a year-over-year revenue growth of 9.6%. Analysts currently project that Visa will achieve 9.92 EPS for the fiscal year.

Visa's Dividend Announcement

In terms of dividends, Visa declared a quarterly dividend recently, which was paid out on September 3rd. Shareholders who were on record as of August 9th received a dividend of $0.52 per share, representing an annualized dividend of $2.08 and a yield of 0.72%. The current payout ratio for Visa is 23.24%.

Insider Activity

In related news, CEO Ryan McInerney sold 8,620 shares of Visa stock on September 3rd for an average price of $276.37, totaling around $2.38 million in the sale. Following this transaction, the CEO retains ownership of 538 shares, valued at approximately $148,687.06. Such insider transactions suggest a minor adjustment in ownership percentage at 0.00%.

Analysts' Outlook for Visa

Visa has drawn attention from several analysts who have provided various assessments. Citigroup recently reduced its price target from $321.00 to $319.00 while maintaining a “buy” rating. On the other hand, StockNews.com upgraded Visa from a “hold” to a “buy” rating. Robert W. Baird has increased the price target for Visa from $320.00 to $330.00, issuing an “outperform” rating. Reports from Macquarie have reiterated the “outperform” status with a target price of $300.00. In total, four analysts rate the stock as a hold, while twenty-three rate it as a buy, and two have assigned a strong buy status. The consensus rating stands at “Moderate Buy” with an average price target of $314.19.

Overview of Visa Inc.

Visa Inc. operates as a leading payment technology company globally. Its core product, VisaNet, provides a transaction processing network that facilitates authorization and settlement of payments. The company offers various services, including credit, debit, and prepaid card products, along with innovative technologies such as tokenization and contactless payments.

investment, stocks, Visa