Calamos Wealth Management LLC Acquires 1,997 Shares of Visa Inc. $V

Calamos Wealth Management LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,673 shares of the credit-card processor’s stock after buying an additional 1,997 shares during the quarter. Visa comprises 1.0% of Calamos Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Calamos Wealth Management LLC’s holdings in Visa were worth $28,312,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in V. Clayton Financial Group LLC increased its position in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp increased its position in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. acquired a new stake in Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC increased its holdings in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in shares of Visa in the 4th quarter valued at $30,000. 82.15% of the stock is owned by institutional investors.

Insider Activity

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

Visa Stock Performance

NYSE:V opened at $357.02 on Tuesday. The company has a market capitalization of $640.41 billion, a PE ratio of 31.10, a P/E/G ratio of 1.86 and a beta of 0.75. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $365.02. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day simple moving average of $331.34 and a two-hundred day simple moving average of $324.88.

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

Visa declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Loop Capital started coverage on Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target for the company. BMO Capital Markets initiated coverage on shares of Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target on the stock. Evercore set a $350.00 price objective on Visa in a research note on Wednesday, April 29th. Barclays assumed coverage on Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 price objective on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Buy” and a consensus target price of $397.91.

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.