Fundsmith LLP Cuts Visa Stake by Over 34%
Investment firm Fundsmith LLP has reduced its stake in Visa Inc. by over 34% in the second quarter, according to a recent SEC filing.
The firm now owns approximately 2 million shares of Visa stock, which accounts for around 5.1% of its portfolio and makes it its fourth-largest holding.
Visa's market capitalization stands at $681 billion, with a price-to-earnings ratio of 32.45.
The credit-card processor reported earnings per share of $3.32 in the most recent quarter, beating analysts' estimates of $3.23.