UBS Increases Stake in Visa Amid Strong Revenue Growth

UBS Asset Management Americas LLC has increased its stake in Visa Inc. (NYSE: V) by 13% in the second quarter, according to a recent filing with the Securities and Exchange Commission.

The institutional investor now owns 15,720,068 shares of Visa's stock, valued at approximately $5.39 billion, making it the company's 17th largest position, accounting for about 1% of its portfolio.

Visa has reported a 14.4% increase in revenue compared to the same period last year, with earnings per share (EPS) beating analysts' expectations at $3.32.

The company has also announced a quarterly dividend of $0.67 per share, paid on September 1st to stockholders of record as of August 11th.