Boomfish Wealth Group LLC Has $3.47 Million Stake in Visa Inc. $V

Key Points

• Boomfish Wealth Group LLC increased its stake in Visa Inc. by 10.0% during the second quarter, totaling approximately $3.47 million and making Visa its 8th largest holding.
• Notable insider transactions include Visa's General Counsel selling 2,027 shares and the CEO selling 10,485 shares, leading to significant decreases in their ownership stakes.
• Analysts maintain a positive outlook on Visa, with a consensus rating of "Moderate Buy" and target prices ranging from $389.00 to $415.00.

Boomfish Wealth Group LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 10.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,781 shares of the credit-card processor's stock after purchasing an additional 889 shares during the quarter. Visa comprises 2.0% of Boomfish Wealth Group LLC's portfolio, making the stock its 8th largest holding. Boomfish Wealth Group LLC's holdings in Visa were worth $3,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in V. Keystone Global Partners LLC bought a new stake in Visa during the first quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa in the second quarter valued at approximately $28,000. Cranbrook Wealth Management LLC boosted its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares during the period. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa in the first quarter valued at approximately $38,000. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays reissued an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Robert W. Baird set a $410.00 price objective on Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, UBS Group reissued a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and an average target price of $389.00.

Visa Stock Performance

Shares of NYSE V opened at $343.63 on Monday. The business has a fifty day simple moving average of $343.77 and a 200 day simple moving average of $346.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $629.79 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.03 and a beta of 0.90. Visa Inc. has a one year low of $275.37 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

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.

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