This article discusses Nicolai Tangen’s hedge fund Ako Capital’s top 5 stock picks at the end of June 2022. If you want to know about Ako Capital’s recent performance, history, and its top 10 stock picks, you can go to the Top 10 Stock Picks of Nicolai Tangen’s Ako Capital.
05. Equifax Inc. (NYSE:EFX)
Ako Capital’s Stake Value: $406.208 million
Percentage of Ako Capital’s 13F Portfolio: 5.68%
Number of Hedge Fund Holders as of Q1 2022: 43
On July 20, Equifax Inc. (NYSE:EFX) released financial results for the second quarter. The company reported earnings per share of $2.09, which was $0.09 higher than expected. Additionally, the $1.32 billion in sales for the time period was up 7.3% from the prior year, which was in line with expectations. Ako Capital is the largest shareholder of Equifax Inc. (NYSE:EFX), with 2.22 million shares worth $406.208 million.
According to Wall Street Journal, which cited bank executives and other people knowledgeable about the problems, Equifax (NYSE:EFX) allegedly issued erroneous credit scores for millions of Americans seeking loans over the course of a three-week period earlier in 2022. However, following The Wall Street Journal’s revelation, BofA analyst Heather Balsky stated that she does not believe this to be a material event based on feedback from the company. Balsky, who reiterates a Neutral recommendation on Equifax shares, pointed out that the Journal implies there might be some regulatory risk.
04. Visa Inc. (NYSE:V)
Ako Capital’s Stake Value: $476.999 million
Percentage of Ako Capital’s 13F Portfolio: 6.68%
Number of Hedge Fund Holders as of Q1 2022: 159
Given its dividend feature and sound business model, Visa Inc. (NYSE:V) is one of the best stocks to hold for the long term. Every year for the previous 13 years, Visa Inc. (NYSE:V) has increased its dividend payments, and over the past five years, its average dividend growth rate has been over 17%. In addition to the dividend component, Visa Inc. (NYSE:V) shares have the ability to deliver a sustainable increase in revenue and earnings, which will support their long-term growth. Visa Inc. (NYSE:V) outperformed analysts’ forecasts for sales and earnings in the second quarter of 2022 by $206.59 million and $0.23 per share, respectively. Visa Inc. (NYSE:V) continues to experience excellent growth, with payments volumes up 12% and cross-border volumes up 40% in the June quarter.
Ako Capital upped its stake in Visa Inc. (NYSE:V) by 85% during the second quarter, holding 2.42 million shares worth $476.99 million, representing 6.68% of the total 13F portfolio.
03. Booking Holdings Inc. (NASDAQ:BKNG)
Ako Capital’s Stake Value: $603.883 million
Percentage of Ako Capital’s 13F Portfolio: 8.45%
Number of Hedge Fund Holders as of Q1 2022: 99
Booking Holdings Inc. (NASDAQ:BKNG) was founded in 1997 and is headquartered in Norwalk, Connecticut. It provides travel and restaurant online reservation and related services worldwide. Booking Holdings Inc. (NASDAQ:BKNG) reported non-GAAP earnings of $19.08 per share for Q2, beating the estimate by $1.41. It reported earnings of $3.90 and $2.55 per share in the prior quarter and the year-ago quarter, respectively. The company reported record revenue of $4.29 billion, up 99% from Q2 2021.
On August 5, Susquehanna analyst Shyam Patil maintained a positive rating on the shares while cutting his price target for Booking Holdings Inc. (NASDAQ:BKNG) from $2900 to $2800. The analyst stated that the second quarter saw high demand for travel, with room nights for the first time surpassing 2019 levels.
02. Accenture plc (NYSE:ACN)
Ako Capital’s Stake Value: $636.139 million
Percentage of Ako Capital’s 13F Portfolio: 8.91%
Number of Hedge Fund Holders as of Q1 2022: 63
The Irish-American corporation Accenture plc (NYSE:ACN) specializes in business consulting, information technology, and professional services. Ako Capital upped its stake in Accenture plc (NYSE:ACN) by 1% during the second quarter of 2022, holding 2.29 million shares worth $636.139 million, representing 8.91% of the total 13F portfolio.
On August 8, analyst David Koning from Baird increased his price target for Accenture plc (NYSE:ACN) from $310 to $338 while maintaining a Neutral rating on the shares. The analyst added that they disclosed a deal to buy Romp, an Indonesian brand agency with a focus on tech-driven and innovative branding and marketing. Given the strong growth, high-quality earnings, and clean balance sheet, he now sees the risk/reward as reasonable and thinks this might increase yearly revenue.
01. Thermo Fisher Scientific Inc. (NYSE:TMO)
Ako Capital’s Stake Value: $658.727 million
Percentage of Ako Capital’s 13F Portfolio: 9.22%
Number of Hedge Fund Holders as of Q1 2022: 101
During the second quarter of 2022, Thermo Fisher Scientific Inc. (NYSE:TMO) had EPS valued at $5.51, beating estimates by $0.53, and brought in revenue valued at $10.97 billion, surpassing estimates by $1.02 billion. The company has a gross profit margin of 46.66% and has lost 8.12% year to date. Ako Capital upped its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1% during the second quarter holding 1.212 million shares valuing $658.727 million, representing 9.22% of the portfolio.
On August 1, Thermo Fisher Scientific Inc. (NYSE:TMO) price target was increased to $685 from $630 by Barclays analyst Luke Sergott, who also maintained an Overweight rating on the stock. According to Sergott, Thermo Fisher Scientific Inc. (NYSE:TMO) “continues to hit home runs, and we see further room to go”. According to the analyst, the stock has “plenty of irons in the fire that can offset many macro headwinds and create a very stable growth business.”
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