Boomfish Wealth Group LLC Trims Stake in Visa Inc. (NYSE:V)

Boomfish Wealth Group LLC cut its stake in shares of Visa Inc. (NYSE:V) by 3.4% in the first quarter, Holdings Channel reports. The firm owned 8,892 shares of the credit-card processor’s stock after selling 310 shares during the quarter. Visa accounts for approximately 2.0% of Boomfish Wealth Group LLC’s holdings, making the stock its 8th biggest holding. Boomfish Wealth Group LLC’s holdings in Visa were worth $3,116,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in V. Norges Bank acquired a new position in Visa during the fourth quarter valued at approximately $5,171,271,000. GAMMA Investing LLC grew its holdings in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Vanguard Group Inc. grew its holdings in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new position in Visa during the fourth quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC grew its holdings in Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a “neutral” rating for the company. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective for the company. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Performance

Shares of V opened at $357.89 on Wednesday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The firm has a fifty day simple moving average of $351.22 and a 200 day simple moving average of $338.19. The stock has a market capitalization of $660.37 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.39 and a beta of 0.94. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the company posted $2.51 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,098 shares of company stock worth $36,738,526. 0.13% of the stock is owned by insiders.

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.