TBH Global Asset Management LLC Decreases Holdings in Visa Inc. $V

Key Points

• TBH Global Asset Management LLC reduced its stake in Visa Inc. by 29.1%, holding 9,991 shares worth approximately $3.55 million after selling 4,106 shares in the second quarter.
• Visa recently reported earnings of $2.98 EPS, exceeding estimates by 13 cents, with revenues of $10.17 billion, which was a 14.3% increase year-over-year.
• The company announced a quarterly dividend of $0.59 per share, resulting in an annualized yield of 0.7% and a dividend payout ratio of 23.05%.

TBH Global Asset Management LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 29.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,991 shares of the credit-card processor's stock after selling 4,106 shares during the period. Visa comprises approximately 0.4% of TBH Global Asset Management LLC's holdings, making the stock its 21st largest position. TBH Global Asset Management LLC's holdings in Visa were worth $3,547,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Yeomans Consulting Group Inc. grew its position in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the period. Semus Wealth Partners LLC grew its position in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after acquiring an additional 29 shares during the period. BankPlus Wealth Management LLC grew its position in shares of Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after acquiring an additional 29 shares during the period. Kennebec Savings Bank grew its position in shares of Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after acquiring an additional 30 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock valued at $1,345,000 after acquiring an additional 30 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.9%

V opened at $340.27 on Tuesday. The firm has a 50-day simple moving average of $344.44 and a two-hundred day simple moving average of $346.54. Visa Inc. has a 52 week low of $273.20 and a 52 week high of $375.51. The company has a market capitalization of $623.64 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Dividend Announcement

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

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on V. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. UBS Group reaffirmed a "buy" rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays reaffirmed an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Morgan Stanley upped their target price on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and an average target price of $385.96.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.