Boomfish Wealth Group LLC Sells 310 Shares of Visa Inc. (NYSE:V)

Boomfish Wealth Group LLC cut its position in Visa Inc. (NYSE:V) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,892 shares of the credit-card processor’s stock after selling 310 shares during the quarter. Visa makes up about 2.0% of Boomfish Wealth Group LLC’s holdings, making the stock its 8th biggest position. 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 hedge funds and other institutional investors have also bought and sold shares of V. Capital & Planning LLC grew its position in Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock worth $300,000 after purchasing an additional 166 shares during the last quarter. Sovereign Investment Advisors LLC acquired a new stake in Visa in the 4th quarter worth $424,000. Brighton Jones LLC grew its position in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Visa in the 4th quarter worth $202,074,000. Finally, Revolve Wealth Partners LLC grew its position in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,098 shares of company stock valued at $36,738,526. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on V shares. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “buy” rating on the stock. Truist Financial initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a “buy” rating and a $400.00 target price on the stock. BMO Capital Markets lifted their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Barclays reiterated an “overweight” rating on shares of Visa in a research report on Friday. Finally, Jefferies Financial Group lifted their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Trading Up 0.7%

Shares of V stock 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 company has a market capitalization of $660.37 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.39 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $351.22 and a 200 day moving average price of $338.19.

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

Visa Dividend Announcement

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

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.