Visa Inc. (NYSE:V – Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Wall Street Journal reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.52 per share by the credit-card processor on Monday, June 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th.
Visa has increased its dividend by an average of 15.3% per year over the last three years and has raised its dividend every year for the last 16 years. Visa has a payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Visa to earn $11.05 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 18.8%.
Visa Stock Up 0.3 %
Shares of V opened at $275.04 on Thursday. The stock has a market capitalization of $505.11 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.89 and a beta of 0.96. Visa has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a fifty day moving average of $279.44 and a 200-day moving average of $263.97.
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold a total of 18,965 shares of company stock worth $5,256,352 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on V. Raymond James upped their price target on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Macquarie raised their target price on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Wells Fargo & Company raised their price objective on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Oppenheimer lifted their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $302.58.
Check Out Our Latest Analysis on V
About Visa
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.
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