Traynor Capital Management Inc. Increases Stake in Visa Inc. (NYSE:V)

Traynor Capital Management Inc. increased its holdings in shares of Visa Inc. (NYSE:V) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,634 shares of the credit-card processor’s stock after buying an additional 1,391 shares during the period. Visa comprises 1.0% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 14th largest holding. Traynor Capital Management Inc.’s holdings in Visa were worth $11,619,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Visa by 3.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,926 shares of the credit-card processor’s stock valued at $3,663,000 after purchasing an additional 486 shares during the last quarter. GSB Wealth Management LLC increased its position in shares of Visa by 4.3% in the 3rd quarter. GSB Wealth Management LLC now owns 1,338 shares of the credit-card processor’s stock valued at $308,000 after purchasing an additional 55 shares during the last quarter. Providence Capital Advisors LLC increased its position in shares of Visa by 11.5% in the 3rd quarter. Providence Capital Advisors LLC now owns 1,224 shares of the credit-card processor’s stock valued at $282,000 after purchasing an additional 126 shares during the last quarter. Pegasus Partners Ltd. increased its position in shares of Visa by 1.4% in the 3rd quarter. Pegasus Partners Ltd. now owns 15,558 shares of the credit-card processor’s stock valued at $3,578,000 after purchasing an additional 217 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Visa by 3.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 11,053 shares of the credit-card processor’s stock valued at $2,542,000 after buying an additional 329 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Macquarie increased their target price on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Mizuho increased their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Piper Sandler assumed coverage on shares of Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price on the stock. Finally, Citigroup increased their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $303.76.

Visa Trading Up 0.3 %

Shares of V stock opened at $276.17 on Tuesday. The stock has a market cap of $505.10 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $290.96. The firm’s 50 day moving average price is $274.07 and its two-hundred day moving average price is $273.29.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,402 shares of company stock worth $9,559,382. Insiders own 0.19% of the company’s stock.

Visa Company 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.