Advisors Preferred LLC Boosts Stake in Visa Inc. by Over 74%
Advisors Preferred LLC has increased its stake in Visa Inc. by 74.9% during the second quarter, according to a recent SEC filing.
The institutional investor acquired an additional 4,269 shares of the credit-card processor's stock, bringing its total holdings in Visa to 9,969 shares worth $3,610,000 as of its most recent SEC filing.
This is not an isolated move by Advisors Preferred LLC. Several other hedge funds have also recently bought and sold shares of Visa. For example, KilterHowling LLC grew its stake in Visa by 5.5% in the second quarter, while Fairtree Asset Management Pty Ltd lifted its position in Visa by 16.7% during the same period.
Visa's stock has been performing well, with a market capitalization of $653.65 billion and a P/E ratio of 31.15. The company reported $3.32 EPS for the quarter, beating the consensus estimate of $3.23 by $0.09. The business had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion.