Calamos Wealth Management LLC Grows Stock Holdings in Visa Inc. $V

Key Points

• Calamos Wealth Management LLC has increased its stake in Visa Inc. by 2.0% during Q2, now holding 87,025 shares valued at approximately $30.9 million.
• Visa reported $2.98 earnings per share for the last quarter, surpassing analysts' expectations, with a revenue of $10.17 billion which is up 14.3% year-over-year.
• Visa's quarterly dividend was recently paid at $0.59 per share, representing a 0.7% dividend yield and a payout ratio of 23.05%.

Calamos Wealth Management LLC increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,025 shares of the credit-card processor's stock after buying an additional 1,690 shares during the quarter. Visa comprises about 1.3% of Calamos Wealth Management LLC's holdings, making the stock its 15th largest position. Calamos Wealth Management LLC's holdings in Visa were worth $30,898,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC lifted its position in Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock valued at $564,000 after purchasing an additional 111 shares during the period. Consilium Wealth Advisory LLC acquired a new stake in Visa in the second quarter valued at about $862,000. Iron Gate Global Advisors LLC lifted its position in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after purchasing an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Price Performance

V stock opened at $347.17 on Wednesday. The firm has a 50 day moving average of $344.68 and a 200-day moving average of $347.11. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $636.29 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the firm earned $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. UBS Group restated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $389.74.

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.

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