Visa Inc. Declares Quarterly Dividend of $0.38 (NYSE:V)

Visa Inc. (NYSE:V – Get Rating) declared a quarterly dividend on Thursday, April 28th, Wall Street Journal reports. Shareholders of record on Friday, May 13th will be paid a dividend of 0.375 per share by the credit-card processor on Wednesday, June 1st. This represents a $1.50 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, May 12th.

Visa has increased its dividend by an average of 14.9% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Visa has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Visa to earn $8.28 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 18.1%.

Shares of V opened at $220.66 on Friday. Visa has a 1 year low of $186.67 and a 1 year high of $252.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock’s fifty day moving average price is $213.59 and its two-hundred day moving average price is $214.91. The firm has a market cap of $422.39 billion, a PE ratio of 36.53, a PEG ratio of 1.90 and a beta of 0.92.

Visa (NYSE:V – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.14. The company had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.82 billion. Visa had a net margin of 51.59% and a return on equity of 40.11%. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Sell-side analysts anticipate that Visa will post 7.04 earnings per share for the current fiscal year.

In related news, President Ryan Mcinerney sold 6,467 shares of the stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $223.65, for a total transaction of $1,446,344.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Monday, January 31st. The stock was sold at an average price of $224.90, for a total transaction of $2,024,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,250 shares of company stock worth $10,951,267. Company insiders own 0.21% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. First Community Trust NA purchased a new stake in Visa in the fourth quarter worth approximately $123,000. Raleigh Capital Management Inc. bought a new position in shares of Visa during the 4th quarter valued at $209,000. OLD Mission Capital LLC purchased a new position in shares of Visa in the 3rd quarter worth $373,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of Visa in the fourth quarter worth $623,000. Finally, Keudell Morrison Wealth Management grew its holdings in shares of Visa by 1.7% in the third quarter. Keudell Morrison Wealth Management now owns 12,330 shares of the credit-card processor’s stock worth $2,747,000 after acquiring an additional 205 shares during the period. 81.28% of the stock is currently owned by institutional investors.

V has been the subject of several analyst reports. Wedbush raised their price target on shares of Visa from $240.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 28th. Robert W. Baird dropped their price objective on Visa from $305.00 to $290.00 in a research note on Friday, January 28th. Morgan Stanley raised their price target on Visa from $279.00 to $284.00 in a report on Wednesday. Credit Suisse Group boosted their price objective on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Evercore ISI raised their target price on shares of Visa from $304.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $266.15.

Visa Company Profile (Get Rating)

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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