5 Important Stocks in Billionaire Richard Chilton’s Latest Portfolio

4. Visa Inc. (NYSE:V)

Chilton Investment Company’s Stake Value: $7,882,000

Percentage of Chilton Investment Company’s 13F Portfolio: 0.18%

Number of Hedge Fund Holders: 159

Visa Inc. (NYSE:V) is one of the leading digital payments technology companies in the world. The firm’s portfolio of financial services, such as mobile payments, allows consumers, retailers, financial institutions, and government bodies to transact conveniently.

On April 29, Chris Donat at Piper Sandler downgraded Visa Inc. (NYSE:V) from Overweight to Neutral. Moreover, the analyst lowered the price target on Visa Inc. (NYSE:V) from $283 to $239. The analyst expressed his concern over a possible recession in Europe in 2023, which would result in declining payments activity and lower revenue for Visa Inc. (NYSE:V). He credited the uncertain macro-environment as the primary reason for the downgrade.

Here’s what Polen Capital said about Visa Inc. (NYSE:V) in its Q1 2022 investor letter:

“We added to both Visa and Mastercard during the final quarters of 2021, based on the belief that both businesses were trading at attractive prices and poised to deliver, double-digit returns over the next three to five years. Cross-border transactions–a highly profitable business segment for both companies–represent roughly 10% of Visa and Mastercard’s volumes and 25% of their gross revenues, so lockdowns have severely impacted this segment due to stifled travel. While it was impossible to know when people would begin traveling again, we accepted this reality with the belief that travel would eventually return. Both companies have commented that as soon as a country or geography reopens, cross-border volumes reignite, amplifying each business’s growth and profitability. We think these near- term headwinds have created an attractive long-term investment opportunity.”

At the end of Q1 2022, 159 hedge funds held a position in Visa Inc. (NYSE:V).