Visa Inc. (NYSE:V) Plans Quarterly Dividend of $0.59

Visa Inc. (NYSE:V) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Tuesday, November 12th will be given 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 dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52.

Visa has increased its dividend by an average of 15.3% annually over the last three years and has raised its dividend every year for the last 16 years. Visa has a payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $530.68 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The firm has a 50 day simple moving average of $280.09 and a 200 day simple moving average of $273.38. Visa has a fifty-two week low of $232.99 and a fifty-two week high of $295.78.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Visa will post 9.92 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Macquarie upped their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday. Four investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $320.07.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

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.