TBH Global Asset Management LLC Lowers Stake in Visa Inc. (NYSE:V)

TBH Global Asset Management LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 23.2% during the 4th quarter, HoldingsChannel reports. The firm owned 11,116 shares of the credit-card processor’s stock after selling 3,355 shares during the period. TBH Global Asset Management LLC’s holdings in Visa were worth $2,894,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new stake in Visa during the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in Visa during the fourth quarter worth about $32,000. Valued Wealth Advisors LLC purchased a new stake in Visa during the fourth quarter worth about $37,000. Delos Wealth Advisors LLC boosted its holdings in Visa by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 156 shares of the credit-card processor’s stock worth $41,000 after buying an additional 150 shares in the last quarter. Finally, Tidemark LLC purchased a new stake in Visa during the fourth quarter worth about $51,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.1 %

V traded up $0.26 during trading hours on Friday, reaching $274.49. 4,316,456 shares of the stock traded hands, compared to its average volume of 6,310,495. The firm’s fifty day simple moving average is $276.88 and its two-hundred day simple moving average is $269.49. The company has a market cap of $502.03 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.89 and a beta of 0.95. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same period last year, the business earned $2.09 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on V. Susquehanna boosted their price objective on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Piper Sandler assumed coverage on shares of Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price for the company. Oppenheimer lifted their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Redburn Atlantic restated a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Finally, Barclays lifted their target price on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is currently owned by insiders.

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.