Visa Inc. (NYSE:V) Declares Dividend Increase – $0.59 Per Share

Visa Inc. (NYSE:V) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.59 per share by the credit-card processor on Monday, December 2nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52.

Visa has raised its dividend by an average of 15.3% per year over the last three years and has increased its dividend every year for the last 16 years. Visa has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Visa to earn $11.08 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 Trading Up 2.9 %

V opened at $290.16 on Thursday. The company’s 50 day moving average is $280.09 and its 200-day moving average is $273.38. Visa has a 1-year low of $232.99 and a 1-year high of $295.78. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $530.68 billion, a P/E ratio of 32.42, a PEG ratio of 1.95 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company posted $2.33 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Visa will post 9.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. TD Cowen lifted their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup raised their price target on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $320.07.

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.