Traynor Capital Management Inc. Purchases 3,570 Shares of Visa Inc. (NYSE:V)

Traynor Capital Management Inc. increased its position in Visa Inc. (NYSE:V) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,408 shares of the credit-card processor’s stock after purchasing an additional 3,570 shares during the quarter. Visa makes up 1.0% of Traynor Capital Management Inc.’s portfolio, making the stock its 15th biggest position. Traynor Capital Management Inc.’s holdings in Visa were worth $15,615,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new stake in Visa in the fourth quarter worth about $26,000. Peterson Financial Group Inc. bought a new position in Visa during the third quarter worth about $26,000. Modus Advisors LLC bought a new position in Visa during the fourth quarter worth about $32,000. Reston Wealth Management LLC bought a new position in Visa during the third quarter worth about $31,000. Finally, Sugar Maple Asset Management LLC bought a new position in Visa during the fourth quarter worth about $44,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.6 %

NYSE:V opened at $330.20 on Friday. The firm has a market capitalization of $615.11 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $331.09. The stock’s 50 day moving average price is $314.54 and its two-hundred day moving average price is $289.98. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 EPS. Equities research analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s payout ratio is presently 24.25%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer raised their target price on Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Morgan Stanley raised their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Piper Sandler raised their target price on Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company raised their target price on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Finally, BMO Capital Markets raised their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

About Visa

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.