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Visa Inc. reported fiscal fourth-quarter revenue of $12.14 billion and adjusted earnings per share of $3.48, both exceeding analyst expectations.
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Following strong fiscal fourth-quarter results, Visa's board of directors approved a 16% increase to the quarterly cash dividend and authorized a new $5 billion share repurchase program.
Following Visa's fourth-quarter earnings release, several financial institutions, including Oppenheimer and Morgan Stanley, updated their price targets for the company's stock.
Visa's board of directors approved a 16% increase in the company's quarterly cash dividend to $0.78 per share.
JPMorgan has updated its price target for Visa Inc. shares, raising the target from $450 to $455.