Traynor Capital Management Inc. Has $12.60 Million Position in Visa Inc. (NYSE:V)

Traynor Capital Management Inc. boosted its stake in shares of Visa Inc. (NYSE:V) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,838 shares of the credit-card processor’s stock after purchasing an additional 2,261 shares during the quarter. Visa accounts for approximately 0.8% of Traynor Capital Management Inc.’s holdings, making the stock its 16th biggest position. Traynor Capital Management Inc.’s holdings in Visa were worth $12,603,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC boosted its stake in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new stake in Visa in the 2nd quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa in the 2nd quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on V shares. JPMorgan Chase & Co. increased their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Oppenheimer assumed coverage on Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price for the company. Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. Finally, Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Visa Stock Down 0.8 %

Shares of NYSE:V opened at $281.96 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $515.69 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 1.95 and a beta of 0.96. The company has a 50 day moving average of $279.65 and a 200-day moving average of $273.26. Visa Inc. has a one year low of $230.03 and a one year high of $293.07.

Visa Company Profile

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.