TBH Global Asset Management LLC Boosts Stock Position in Visa Inc. (NYSE:V)

TBH Global Asset Management LLC raised its position in Visa Inc. (NYSE:V - Free Report) by 34.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,097 shares of the credit-card processor's stock after purchasing an additional 3,589 shares during the quarter. Visa comprises 0.5% of TBH Global Asset Management LLC's investment portfolio, making the stock its 21st biggest position. TBH Global Asset Management LLC's holdings in Visa were worth $4,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. NewSquare Capital LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $35,000. Sellwood Investment Partners LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Visa during the 4th quarter worth approximately $47,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa during the 4th quarter worth approximately $47,000. Finally, Global X Japan Co. Ltd. acquired a new stake in Visa in the 1st quarter valued at approximately $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Up 1.9%

Visa stock traded up $6.49 during midday trading on Monday, reaching $355.10. The company's stock had a trading volume of 7,077,777 shares, compared to its average volume of 6,879,707. The business has a 50-day simple moving average of $353.30 and a 200-day simple moving average of $340.19. The company has a market cap of $655.22 billion, a P/E ratio of 35.69, a P/E/G ratio of 2.34 and a beta of 0.94. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping 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%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $2.51 EPS. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analyst Ratings Changes

V has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Citigroup started coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Piper Sandler boosted their price target on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $372.80.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,098 shares of company stock worth $36,738,526. Corporate insiders own 0.13% of the company's stock.

Visa 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.