Traynor Capital Management Inc. cut its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,951 shares of the credit-card processor’s stock after selling 2,752 shares during the quarter. Visa makes up approximately 1.2% of Traynor Capital Management Inc.’s holdings, making the stock its 17th largest holding. Traynor Capital Management Inc.’s holdings in Visa were worth $8,508,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Visa by 290.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,428,383 shares of the credit-card processor’s stock worth $786,702,000 after purchasing an additional 3,295,642 shares in the last quarter. Cottage Street Advisors LLC increased its holdings in shares of Visa by 15,603.1% in the 4th quarter. Cottage Street Advisors LLC now owns 3,156,323 shares of the credit-card processor’s stock valued at $998,000 after acquiring an additional 3,136,223 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Visa by 7.0% during the 3rd quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after acquiring an additional 1,785,695 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Visa during the third quarter worth $291,294,000. Finally, Barclays PLC boosted its holdings in Visa by 30.2% in the third quarter. Barclays PLC now owns 5,922,846 shares of the credit-card processor’s stock worth $1,052,192,000 after purchasing an additional 1,372,336 shares during the period. 81.87% of the stock is owned by institutional investors and hedge funds.
Visa Stock Performance
V opened at $225.99 on Monday. The business has a 50 day moving average price of $223.74 and a two-hundred day moving average price of $211.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $425.09 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $234.30.
Visa Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.80%. This is an increase from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 9th. Visa’s dividend payout ratio is presently 25.17%.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Raymond James increased their target price on shares of Visa from $261.00 to $281.00 and gave the stock an “outperform” rating in a report on Friday, January 27th. Truist Financial raised their target price on shares of Visa from $235.00 to $260.00 in a report on Friday, January 20th. Mizuho increased their price target on Visa from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, January 30th. Barclays boosted their price objective on Visa from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Sunday, January 29th. Finally, Oppenheimer increased their target price on Visa from $210.00 to $237.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $259.11.
Insider Transactions at Visa
In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of Visa stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total value of $12,991,420.00. Following the transaction, the chairman now owns 162,354 shares in the company, valued at $36,365,672.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Visa news, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $219.00, for a total transaction of $2,933,286.00. Following the sale, the general counsel now owns 4,583 shares in the company, valued at approximately $1,003,677. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the sale, the chairman now directly owns 162,354 shares of the company’s stock, valued at $36,365,672.46. The disclosure for this sale can be found here. Insiders have sold 133,115 shares of company stock valued at $30,115,598 in the last quarter. Insiders own 0.22% of the company’s stock.
Visa Company Profile
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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