Calamos Advisors LLC Has $249.99 Million Stake in Visa Inc. (NYSE:V)

Calamos Advisors LLC trimmed its position in Visa Inc. (NYSE:V - Free Report) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 713,318 shares of the credit-card processor's stock after selling 34,149 shares during the period. Visa makes up approximately 1.1% of Calamos Advisors LLC's investment portfolio, making the stock its 9th largest holding. Calamos Advisors LLC's holdings in Visa were worth $249,989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sellwood Investment Partners LLC acquired a new stake in shares of Visa in the 4th quarter valued at $41,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Visa in the 4th quarter valued at $47,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa in the 4th quarter valued at $47,000. Navigoe LLC bought a new position in shares of Visa in the 4th quarter valued at $53,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of Visa in the 1st quarter valued at $54,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.7%

Shares of V traded up $2.36 during trading hours on Wednesday, hitting $356.91. 2,511,262 shares of the company were exchanged, compared to its average volume of 6,820,583. The company has a market cap of $658.55 billion, a PE ratio of 35.87, a PEG ratio of 2.42 and a beta of 0.92. The firm's 50 day moving average is $356.43 and its 200-day moving average is $342.00. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.51 EPS. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio is currently 23.72%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,108 shares of company stock valued at $36,771,200. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Macquarie lowered their target price on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Citigroup began coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. Truist Financial began coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Finally, Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average price target of $372.84.

About Visa

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.