Allspring Global Investments Holdings LLC Has $289.35 Million Stock Position in Visa Inc. $V

Allspring Global Investments Holdings LLC reduced its position in shares of Visa Inc. (NYSE:VFree Report) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 835,116 shares of the credit-card processor’s stock after selling 14,991 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Visa were worth $289,351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in V. Capital World Investors grew its position in shares of Visa by 0.8% during the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after buying an additional 193,288 shares during the period. TCI Fund Management Ltd. boosted its stake in Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Visa by 4.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor’s stock worth $4,475,403,000 after acquiring an additional 530,995 shares during the period. Legal & General Group Plc grew its holdings in Visa by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 12,458,913 shares of the credit-card processor’s stock worth $4,253,224,000 after acquiring an additional 399,845 shares during the period. Finally, Invesco Ltd. raised its position in shares of Visa by 12.2% during the 3rd quarter. Invesco Ltd. now owns 11,913,505 shares of the credit-card processor’s stock valued at $4,067,032,000 after acquiring an additional 1,298,435 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the topic of a number of analyst reports. HSBC raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Daiwa Securities Group upgraded Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective for the company in a report on Monday, February 2nd. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 target price on shares of Visa in a research note on Friday, January 30th. Truist Financial set a $372.00 target price on Visa in a report on Tuesday, February 10th. Finally, Loop Capital assumed coverage on Visa in a research report on Tuesday. They set a “buy” rating and a $387.00 target price for the company. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Visa currently has an average rating of “Buy” and a consensus target price of $390.96.

Read Our Latest Stock Analysis on Visa

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 650 shares of Visa stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the sale, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. This represents a 19.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

Trending Headlines about Visa

Here are the key news stories impacting Visa this week:

Visa Stock Performance

Shares of V stock opened at $298.76 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $375.51. The company’s 50 day moving average price is $316.08 and its two-hundred day moving average price is $332.01. The company has a market capitalization of $542.30 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm earned $2.75 earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, February 10th. Visa’s dividend payout ratio is 25.14%.

Visa Company Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Featured Stories

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.