HB Wealth Management LLC Sells 25,316 Shares of Global Payments Inc. $GPN

Key Points

• HB Wealth Management LLC decreased its ownership of Global Payments Inc. (NYSE:GPN) by 68.3%, selling 25,316 shares and leaving it with 11,743 shares valued at $940,000.
• Global Payments' stock has received a mix of analyst ratings, with a consensus rating of "Hold" and a price target of $103.75, following various price adjustments from firms including Mizuho and Truist Financial.
• The company recently announced a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 with a yield of 1.1%.

HB Wealth Management LLC lessened its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 68.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,743 shares of the business services provider's stock after selling 25,316 shares during the quarter. HB Wealth Management LLC's holdings in Global Payments were worth $940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Perigon Wealth Management LLC boosted its position in Global Payments by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock valued at $385,000 after acquiring an additional 144 shares in the last quarter. Transcend Capital Advisors LLC boosted its position in Global Payments by 7.9% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock valued at $209,000 after acquiring an additional 157 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Global Payments by 5.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider's stock worth $242,000 after purchasing an additional 158 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Global Payments by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after purchasing an additional 171 shares in the last quarter. Finally, WESCAP Management Group Inc. boosted its position in shares of Global Payments by 2.5% in the 1st quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider's stock worth $695,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GPN shares. Truist Financial raised their price objective on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. KeyCorp reissued an "overweight" rating and issued a $100.00 price objective (up previously from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. Mizuho raised Global Payments from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $86.00 to $114.00 in a research report on Friday, July 25th. Keefe, Bruyette & Woods raised their price objective on Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Finally, TD Cowen cut Global Payments from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Eight equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Global Payments presently has a consensus rating of "Hold" and a consensus price target of $103.75.

Insider Buying and Selling at Global Payments

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares in the company, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.01% of the company's stock.

Global Payments Stock Up 1.8%

Global Payments stock opened at $88.00 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The business's 50-day simple moving average is $85.37 and its two-hundred day simple moving average is $82.77. The company has a market cap of $21.35 billion, a PE ratio of 15.38, a PEG ratio of 0.82 and a beta of 0.98. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.04. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.93 EPS. Equities analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Global Payments's dividend payout ratio (DPR) is presently 17.48%.

Global Payments Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.

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