Allspring Global Investments Holdings LLC trimmed its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 13.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,136,102 shares of the credit-card processor’s stock after selling 181,178 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Visa were worth $312,372,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the business. Westend Capital Management LLC acquired a new position in Visa in the 1st quarter worth about $25,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the 2nd quarter valued at about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Price Performance
Shares of V stock opened at $290.62 on Monday. The stock’s fifty day simple moving average is $276.91 and its 200 day simple moving average is $272.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $531.53 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.00 and a beta of 0.96. Visa Inc. has a one year low of $228.03 and a one year high of $293.07.
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. During the same quarter in the previous year, the firm earned $2.16 EPS. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s payout ratio is currently 23.24%.
Insider Transactions at Visa
In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
V has been the topic of a number of analyst reports. Citigroup lowered their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Robert W. Baird increased their price objective on Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday. Macquarie restated an “outperform” rating and set a $300.00 target price on shares of Visa in a research note on Friday, September 27th. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.19.
Read Our Latest Stock Report on Visa
Visa 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.
See Also
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