Visa Inc. $V Stock Bought by Traynor Capital Management Inc.

Traynor Capital Management Inc. increased its holdings in Visa Inc. (NYSE:V) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 54,189 shares of the credit-card processor’s stock after buying an additional 1,257 shares during the quarter. Visa comprises approximately 0.9% of Traynor Capital Management Inc.’s portfolio, making the stock its 22nd biggest position. Traynor Capital Management Inc.’s holdings in Visa were worth $19,472,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. John Boyer Inc. purchased a new stake in shares of Visa during the 3rd quarter valued at about $27,000. Philadelphia Investment Partners LLC bought a new stake in shares of Visa in the second quarter worth approximately $29,000. Virtus Advisers LLC purchased a new position in shares of Visa during the second quarter valued at approximately $33,000. Portfolio Resources Advisor Group Inc. purchased a new position in shares of Visa during the third quarter valued at approximately $35,000. Finally, DecisionPoint Financial LLC raised its holdings in shares of Visa by 307.7% during the third quarter. DecisionPoint Financial LLC now owns 106 shares of the credit-card processor’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction on Friday, August 21st. The shares were sold at an average price of $367.87, for a total transaction of $2,161,236.25. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,582,059.38. This trade represents a 27.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total transaction of $773,377.80. Following the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $7,018,365.40. The trade was a 9.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,520 shares of company stock worth $7,960,757 over the last quarter. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Visa in a report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $466.00 target price on shares of Visa in a research report on Wednesday, October 28th. President Capital boosted their target price on shares of Visa from $411.00 to $474.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Keefe, Bruyette & Woods increased their price target on Visa from $400.00 to $430.00 in a report on Wednesday, July 8th. Finally, Rothschild & Co Redburn raised their price target on Visa from $430.00 to $444.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company’s stock. According to data from MarketBeat, Visa has an average rating of “Buy” and an average price target of $438.41.

Visa Price Performance

NYSE V opened at $413.69 on Monday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $417.00. The firm has a market capitalization of $738.20 billion, a P/E ratio of 33.55, a PEG ratio of 1.76 and a beta of 0.77. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $381.31 and a 200-day moving average price of $342.25.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. The company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.98 earnings per share. Equities research analysts anticipate that Visa Inc. will post 15.03 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.78 per share. This is an increase from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 10th. Visa’s dividend payout ratio is currently 25.30%.

Visa Company Profile

Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.