Visa Inc. (V) To Go Ex-Dividend on November 12th

Visa Inc. (NYSE:V) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders 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 yield of 0.80%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52.

Visa has raised its dividend by an average of 15.3% annually over the last three years and has raised its dividend annually for the last 16 consecutive years. Visa has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 1.1 %

Shares of NYSE:V opened at $293.23 on Thursday. The company has a market capitalization of $536.30 billion, a PE ratio of 32.42, a P/E/G ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa has a 52 week low of $232.99 and a 52 week high of $295.78. The company’s fifty day moving average is $280.09 and its 200-day moving average is $273.38.

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

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on V shares. Robert W. Baird upped their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup upped their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler raised their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four equities 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.