Visa Stock Is Up 5% Today: What's Driving The Action?

Visa Inc V shares are trading higher Wednesday after the company reported better-than-expected financial results, raised its quarterly dividend and announced a $12 billion buyback.

Visa said fourth-quarter revenue increased 19% year-over-year to $7.8 billion, which beat average analyst estimates of $7.57 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.93 per share, which beat average analyst estimates of $1.87 per share.

Payments volume increased 10% year-over-year and processed transactions jumped 12%. Cross-border volume increased 36% on a year-over-year basis.

Visa's board also authorized a $12 billion share repurchase program and increased its quarterly cash dividend to 45 cents per share. 

Analyst Assessment: Several analysts adjusted price targets on the stock following the company's quarterly results.

• Credit Suisse analyst Moshe Orenbuch maintained Visa with an Outperform rating and raised the price target from $235 to $245.
• Citigroup analyst Ashwin Shirvaikar maintained Visa with a Buy rating and lowered the price target from $254 to $238.
• Oppenheimer analyst Dominick Gabriele maintained Visa with an Outperform rating and lowered the price target from $216 to $210.
• Morgan Stanley analyst James Faucette maintained Visa with an Overweight rating and raised the price target from $282 to $284.

See Also: Visa To Rally Over 26%? Here Are 5 Other Price Target Changes For Wednesday

V Price Action: Visa has a 52-week high of $235.85 and a 52-week low of $174.60.

The stock was up 5.66% at $205.39 at time of publication.

Photo: Ann San from Pixabay.