Biltmore Wealth Management LLC Has $438,000 Holdings in Global Payments Inc (NYSE:GPN)

Biltmore Wealth Management LLC cut its stake in shares of Global Payments Inc (NYSE:GPN) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,584 shares of the business services provider’s stock after selling 258 shares during the period. Global Payments comprises approximately 0.3% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Biltmore Wealth Management LLC’s holdings in Global Payments were worth $438,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GPN. Heritage Wealth Advisors increased its holdings in shares of Global Payments by 264.2% during the second quarter. Heritage Wealth Advisors now owns 539 shares of the business services provider’s stock worth $25,000 after buying an additional 391 shares in the last quarter. CX Institutional increased its holdings in shares of Global Payments by 98.8% during the second quarter. CX Institutional now owns 169 shares of the business services provider’s stock worth $29,000 after buying an additional 84 shares in the last quarter. Campbell Wealth Management acquired a new position in shares of Global Payments during the second quarter worth $30,000. Maverick Capital Ltd. acquired a new position in shares of Global Payments during the first quarter worth $38,000. Finally, Costello Asset Management INC acquired a new position in shares of Global Payments during the second quarter worth $44,000. Institutional investors own 86.81% of the company’s stock.

GPN stock opened at $177.06 on Friday. The stock has a market capitalization of $52.98 billion, a PE ratio of 119.64, a price-to-earnings-growth ratio of 1.51 and a beta of 1.10. The company’s 50-day moving average is $176.20 and its 200-day moving average is $169.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.03 and a quick ratio of 1.03. Global Payments Inc has a 1 year low of $105.54 and a 1 year high of $209.62.

Global Payments (NYSE:GPN) last posted its earnings results on Monday, August 3rd. The business services provider reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.27. Global Payments had a net margin of 5.68% and a return on equity of 5.61%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $1.51 EPS. The firm’s revenue was up 71.2% compared to the same quarter last year. On average, analysts anticipate that Global Payments Inc will post 5.96 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a $0.195 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.44%. Global Payments’s dividend payout ratio is presently 13.31%.

Several research analysts have recently issued reports on the stock. Compass Point started coverage on shares of Global Payments in a report on Wednesday, September 16th. They set a “buy” rating and a $220.00 price target for the company. Wedbush reissued an “outperform” rating on shares of Global Payments in a research note on Wednesday, July 22nd. Morgan Stanley boosted their price objective on shares of Global Payments from $161.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Loop Capital started coverage on shares of Global Payments in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $199.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of Global Payments from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Six investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Global Payments presently has an average rating of “Buy” and a consensus target price of $201.59.

In related news, Director William I. Jacobs sold 500 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $175.16, for a total value of $87,580.00. Following the sale, the director now owns 23,893 shares in the company, valued at approximately $4,185,097.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William I. Jacobs sold 7,224 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $174.90, for a total transaction of $1,263,477.60. Following the completion of the sale, the director now owns 32,117 shares in the company, valued at approximately $5,617,263.30. The disclosure for this sale can be found here. Insiders sold a total of 8,224 shares of company stock worth $1,436,788 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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