Visa Inc. $V Stock: Traynor Capital Management Inc. Increases Stake

Traynor Capital Management Inc. increased its position in Visa Inc. (NYSE:V) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,189 shares of the credit-card processor’s stock after acquiring an additional 1,257 shares during the quarter. Visa comprises approximately 0.9% of Traynor Capital Management Inc.’s holdings, making the stock its 22nd biggest position. Traynor Capital Management Inc.’s holdings in Visa were worth $19,472,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boit C F David boosted its stake in shares of Visa by 0.3% in the third quarter. Boit C F David now owns 26,710 shares of the credit-card processor’s stock worth $9,598,000 after acquiring an additional 80 shares during the period. Hennessy Advisors Inc. grew its position in shares of Visa by 8.6% during the third quarter. Hennessy Advisors Inc. now owns 3,800 shares of the credit-card processor’s stock worth $1,365,000 after purchasing an additional 300 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its position in shares of Visa by 2.5% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,955 shares of the credit-card processor’s stock worth $1,062,000 after purchasing an additional 71 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Visa by 2.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,434 shares of the credit-card processor’s stock valued at $515,000 after purchasing an additional 36 shares during the period. Finally, Verus Financial Partners Inc. raised its stake in Visa by 3.7% during the 3rd quarter. Verus Financial Partners Inc. now owns 752 shares of the credit-card processor’s stock valued at $270,000 after purchasing an additional 27 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on V. Truist Financial set a $443.00 price target on Visa and gave the stock a “buy” rating in a report on Friday, October 23rd. President Capital lifted their price objective on shares of Visa from $411.00 to $474.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Loop Capital lifted their price objective on shares of Visa from $387.00 to $404.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. TD Cowen reissued a “buy” rating and issued a $450.00 target price (up from $420.00) on shares of Visa in a report on Wednesday. Finally, KeyCorp upped their target price on shares of Visa from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $438.41.

Insider Activity

In related news, CEO Ryan Mcinerney sold 5,875 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $367.87, for a total value of $2,161,236.25. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,582,059.38. This trade represents a 27.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 2,028 shares of Visa stock in a transaction dated 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 owned 18,404 shares of the company’s stock, valued at $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 a total of 21,520 shares of company stock worth $7,960,757 in the last ninety days. 0.12% of the stock is currently owned by insiders.

Visa Stock Performance

Shares of Visa stock opened at $413.69 on Monday. 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 stock’s fifty day moving average is $381.31 and its two-hundred day moving average is $342.25. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $417.00. The company has a market capitalization of $738.20 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 1.76 and a beta of 0.77.

Visa (NYSE:V) last released its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.04. The business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the company earned $2.98 earnings per share. As a group, analysts expect that Visa Inc. will post 15.03 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be issued a $0.78 dividend. The ex-dividend date is Tuesday, November 10th. This is a boost from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 25.30%.

Visa 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.