Calamos Wealth Management LLC Raises Holdings in Visa Inc. $V

Calamos Wealth Management LLC grew its stake in shares of Visa Inc. (NYSE:V) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,673 shares of the credit-card processor’s stock after purchasing an additional 1,997 shares during the quarter. Visa makes up approximately 1.0% of Calamos Wealth Management LLC’s portfolio, making the stock its 21st biggest position. Calamos Wealth Management LLC’s holdings in Visa were worth $28,312,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Clayton Financial Group LLC boosted its position in Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after acquiring an additional 58 shares in the last quarter. PayPay Securities Corp lifted its position in Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new position in shares of Visa in the 4th quarter worth $26,000. Parvin Asset Management LLC boosted its position in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Finally, Dorato Capital Management bought a new position in shares of Visa in the fourth quarter worth about $30,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 2.3%

V stock opened at $357.02 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02. The stock has a market cap of $640.41 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 1.86 and a beta of 0.75. The business’s 50-day moving average is $331.34 and its 200 day moving average is $324.88.

Visa (NYSE:V) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the prior year, the firm earned $2.76 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is presently 23.34%.

Visa announced that its board has authorized a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on V shares. Evercore set a $350.00 target price on shares of Visa in a research note on Wednesday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of Visa in a research report on Wednesday, April 29th. UBS Group raised their price objective on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Robert W. Baird set a $412.00 target price on Visa and gave the company an “outperform” rating in a research note on Monday, July 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Seven analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $397.91.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 75,581 shares of company stock valued at $25,627,975. Corporate insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.