Visa Inc (NYSE:V) declared a quarterly dividend on Wednesday, July 17th, RTT News reports. Investors of record on Friday, August 16th will be given a dividend of 0.25 per share by the credit-card processor on Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 0.57%. The ex-dividend date is Thursday, August 15th.
Visa has raised its dividend by an average of 20.7% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Visa has a payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
V opened at $176.34 on Tuesday. The firm’s 50 day simple moving average is $177.85. The company has a market cap of $355.22 billion, a price-to-earnings ratio of 38.25, 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. Visa has a one year low of $121.60 and a one year high of $184.07.
Several brokerages have recently issued reports on V. Cantor Fitzgerald reissued a “buy” rating and issued a $181.00 target price on shares of Visa in a research report on Sunday, April 28th. Bank of America raised their price objective on Visa from $177.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Credit Suisse Group raised their price objective on Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank raised their price objective on Visa from $177.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Co raised their price objective on Visa from $181.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $195.46.
In other Visa news, Director Lloyd Carney sold 3,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the sale, the director now directly owns 3,452 shares of the company’s stock, valued at $630,783.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Denise M. Morrison purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the acquisition, the director now owns 3,223 shares of the company’s stock, valued at $551,551.99. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.
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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