Visa Inc (NYSE:V) declared a quarterly dividend on Wednesday, October 17th, RTT News reports. Investors of record on Friday, November 16th will be paid a dividend of 0.25 per share by the credit-card processor on Tuesday, December 4th. This represents a $1.00 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, November 15th. This is a boost from Visa’s previous quarterly dividend of $0.21.
Visa has raised its dividend payment by an average of 18.0% per year over the last three years and has raised its dividend every year for the last 9 years. Visa has a dividend payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Visa to earn $6.18 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 16.2%.
Shares of Visa stock opened at $143.93 on Friday. The company has a market capitalization of $294.52 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11. Visa has a fifty-two week low of $106.60 and a fifty-two week high of $151.56. The company has a quick ratio of 1.69, a current ratio of 1.61 and a debt-to-equity ratio of 0.58.
Several brokerages recently weighed in on V. Wells Fargo & Co increased their price objective on Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research report on Tuesday, September 25th. BMO Capital Markets began coverage on Visa in a research report on Wednesday, September 26th. They issued an “outperform” rating and a $187.00 price objective for the company. Robert W. Baird increased their price objective on Visa from $156.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Finally, Bank of America reiterated a “buy” rating and issued a $163.00 price objective on shares of Visa in a research report on Monday, September 17th. Two investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $155.47.
In other news, EVP William M. Sheedy sold 99,636 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total value of $13,877,302.08. Following the sale, the executive vice president now directly owns 296,925 shares in the company, valued at $41,355,714. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
A hedge fund recently bought a new stake in Visa stock. HC Financial Advisors Inc. purchased a new stake in Visa Inc (NYSE:V) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,598 shares of the credit-card processor’s stock, valued at approximately $2,805,000. Visa makes up about 2.8% of HC Financial Advisors Inc.’s holdings, making the stock its 6th largest position. Institutional investors and hedge funds own 80.38% of the company’s stock.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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