Traynor Capital Management Inc. Purchases 1,391 Shares of Visa Inc. (NYSE:V)

Traynor Capital Management Inc. lifted its position in shares of Visa Inc. (NYSE:V) by 3.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,634 shares of the credit-card processor’s stock after buying an additional 1,391 shares during the quarter. Visa comprises 1.0% of Traynor Capital Management Inc.’s holdings, making the stock its 14th biggest position. Traynor Capital Management Inc.’s holdings in Visa were worth $11,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new position in Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC bought a new stake in shares of Visa during the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa during the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC bought a new stake in shares of Visa during the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Visa during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $276.17 on Tuesday. The business’s 50-day moving average price is $274.07 and its two-hundred day moving average price is $273.29. Visa Inc. has a twelve month low of $226.02 and a twelve month high of $290.96. The stock has a market cap of $505.10 billion, a P/E ratio of 30.86, a PEG 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 (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. As a group, equities analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on V. Mizuho lifted their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. UBS Group lifted their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company lifted their price objective on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Wedbush lifted their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

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.