Visa Inc. (NYSE:V – Get Free Report) declared 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 raised its dividend payment by an average of 15.3% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Visa has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance
V traded up $0.91 during midday trading on Wednesday, reaching $275.02. 8,745,496 shares of the company’s stock were exchanged, compared to its average volume of 5,913,194. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $505.08 billion, a PE ratio of 31.77, a P/E/G ratio of 1.88 and a beta of 0.96. The business’s 50-day moving average price is $279.49 and its 200 day moving average price is $263.90. Visa has a 1-year low of $216.14 and a 1-year high of $290.96.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction 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 $1,365,954.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the company’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 disclosure for this sale can be found here. Insiders sold 18,965 shares of company stock worth $5,256,352 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on V. Citigroup boosted their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Robert W. Baird boosted their price objective on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Finally, UBS Group boosted their price objective on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $302.58.
Check Out Our Latest Report on Visa
Visa Company 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.
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