Allspring Global Investments Holdings LLC Trims Position in Visa Inc. (NYSE:V)

Allspring Global Investments Holdings LLC lowered its holdings in Visa Inc. (NYSE:V) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 856,539 shares of the credit-card processor’s stock after selling 279,563 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Visa were worth $269,380,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Visa by 2.4% during the 3rd quarter. Creative Planning now owns 566,729 shares of the credit-card processor’s stock worth $155,822,000 after buying an additional 13,318 shares during the last quarter. Swedbank AB increased its stake in Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after acquiring an additional 199,440 shares during the last quarter. Ironwood Financial llc purchased a new position in shares of Visa in the 3rd quarter worth about $230,000. Naviter Wealth LLC lifted its stake in shares of Visa by 0.5% in the 3rd quarter. Naviter Wealth LLC now owns 11,699 shares of the credit-card processor’s stock valued at $3,217,000 after purchasing an additional 63 shares in the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Visa during the 3rd quarter worth about $34,713,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE V opened at $353.73 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $324.29 and its two-hundred day moving average price is $298.30. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $356.08. The stock has a market capitalization of $657.15 billion, a P/E ratio of 35.66, a P/E/G ratio of 2.32 and a beta of 0.97.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, sell-side analysts forecast that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,056 shares of company stock worth $19,830,050. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on V. Barclays lifted their price target on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Susquehanna lifted their target price on shares of Visa from $375.00 to $395.00 and gave the company a “positive” rating in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Citigroup increased their target price on Visa from $354.00 to $393.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $354.73.

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.