Visa Inc (NYSE:V) announced a quarterly dividend on Wednesday, July 17th, RTT News reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.25 per share by the credit-card processor on Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th.
Visa has increased its dividend payment by an average of 20.7% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Visa has a dividend payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Visa to earn $6.24 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 16.0%.
Shares of NYSE V opened at $178.61 on Wednesday. The stock has a market cap of $355.22 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69. The business’s 50-day simple moving average is $177.94. Visa has a 1 year low of $121.60 and a 1 year high of $184.07.
In other news, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the sale, the director now directly owns 3,452 shares in the company, valued at approximately $630,783.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Denise M. Morrison acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, with a total value of $171,130.00. Following the completion of the acquisition, the director now owns 3,223 shares in the company, valued at $551,551.99. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.
A number of analysts have issued reports on the company. Nomura lifted their price target on Visa from $178.00 to $204.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their price target on Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Citigroup set a $206.00 target price on Visa and gave the company a “buy” rating in a report on Friday, July 19th. Raymond James boosted their target price on Visa from $177.00 to $193.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, KeyCorp boosted their target price on Visa from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $195.46.
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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