Calamos Advisors LLC grew its position in Visa Inc (NYSE:V) by 3.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,078,094 shares of the credit-card processor’s stock after purchasing an additional 32,813 shares during the period. Visa makes up 1.0% of Calamos Advisors LLC’s holdings, making the stock its 12th largest position. Calamos Advisors LLC’s holdings in Visa were worth $185,443,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in V. Krane Funds Advisors LLC purchased a new stake in Visa in the 2nd quarter valued at approximately $26,000. Lowe Wealth Advisors LLC lifted its stake in Visa by 114.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 86 shares in the last quarter. Personal Wealth Partners purchased a new stake in Visa in the 2nd quarter valued at approximately $30,000. Mcmillion Capital Management Inc. purchased a new stake in Visa in the 2nd quarter valued at approximately $38,000. Finally, Hexavest Inc. purchased a new stake in Visa in the 2nd quarter valued at approximately $40,000. 80.99% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on V. Credit Suisse Group upped their target price on Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank upped their target price on Visa from $177.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $202.00 target price on shares of Visa in a research note on Wednesday, July 24th. Jefferies Financial Group upped their target price on Visa from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, UBS Group increased their price target on Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $196.57.
Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. On average, equities research analysts predict that Visa Inc will post 5.4 EPS for the current fiscal year.
In other news, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the sale, the insider now directly owns 62,223 shares in the company, valued at approximately $11,271,074.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Denise M. Morrison acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, with a total value of $171,130.00. Following the completion of the acquisition, the director now owns 3,223 shares in the company, valued at $551,551.99. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
Read More: The basics of gap trading strategies
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.