Calamos Advisors LLC Buys 10,826 Shares of Visa Inc. $V

Calamos Advisors LLC raised its stake in Visa Inc. (NYSE:V) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 724,144 shares of the credit-card processor’s stock after purchasing an additional 10,826 shares during the quarter. Visa accounts for about 1.0% of Calamos Advisors LLC’s portfolio, making the stock its 11th biggest position. Calamos Advisors LLC’s holdings in Visa were worth $257,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the second quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the second quarter valued at about $29,000. Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new stake in Visa in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.0%

NYSE V opened at $339.00 on Thursday. The firm has a market cap of $621.32 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.87. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $342.72 and a 200-day moving average of $348.78.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is presently 23.11%.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,897 shares of company stock valued at $8,164,561 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Robert W. Baird set a $425.00 target price on shares of Visa in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 target price (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $400.00.

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.