Visa Stock Given 'Buy' Rating by Brokerages with Average Price Target of $413.11

Visa Inc.'s (NYSE:V) stock has been given an average rating of 'Buy' by thirty-one brokerages covering the company, according to Marketbeat. Twenty-four research analysts have rated the stock with a buy rating and seven have assigned a strong buy rating. The average one-year price objective among these brokerages is $413.11.

The credit-card processor's Board of Directors has approved a stock buyback program that authorizes the company to repurchase up to 3.6% of its shares, totaling $20 billion in value. This move suggests that management believes Visa's shares are undervalued.

The company recently declared a quarterly dividend of $0.67 per share, paid on September 1st to shareholders recorded on August 11th. The yield is approximately 0.7% and the payout ratio is 22.79%.