Boomfish Wealth Group LLC Has $2.33 Million Stake in Visa Inc. (NYSE:V)

Boomfish Wealth Group LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,862 shares of the credit-card processor’s stock after buying an additional 95 shares during the quarter. Visa comprises approximately 1.5% of Boomfish Wealth Group LLC’s investment portfolio, making the stock its 28th biggest holding. Boomfish Wealth Group LLC’s holdings in Visa were worth $2,326,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Visa in the fourth quarter valued at approximately $3,895,015,000. National Bank of Canada FI boosted its holdings in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB acquired a new position in Visa during the first quarter worth $511,321,000. GQG Partners LLC boosted its holdings in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Visa stock traded up $0.58 during trading hours on Friday, reaching $267.38. 5,111,080 shares of the stock were exchanged, compared to its average volume of 7,227,860. The company has a market cap of $489.02 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The stock has a 50 day moving average of $266.41 and a two-hundred day moving average of $273.57.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $2.16 EPS. Equities analysts expect that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI dropped their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Piper Sandler dropped their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Citigroup dropped their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.25.

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.