Ken Fisher

Ken Fisher

Last Update: 07-17-2015

Number of Stocks: 592
Number of New Stocks: 57

Total Value: $49,932 Mil
Q/Q Turnover: 5%

Countries: USA CAN
Details: Top Buys | Top Sales | Top Holdings  Embed:

Ken Fisher Watch

  • Merck Reports Strong Second Quarter 2015 Earnings with Improved Outlook for the Full Year

    Merck (NYSE:MRK) released its second quarter 2015 earnings on July 28. The health care company reported revenue of $9.79 billion with adjusted net income of $2.44 billion resulting in earnings per share of $0.86. Earnings per share beat analysts’ consensus estimate by $0.05; however, revenue fell just below expectations, missing analysts’ average estimate by $10 million.

    In comparison to the second quarter of 2014, revenue was down 11% from $10.93 billion and net income was also slightly lower, down 2% from $2.49 billion. Earnings per share increased from the second quarter of 2014 up 1% from $0.85.


  • Paul Singer Reduces His Position in Juniper

    Paul Singer (Trades, Portfolio) of Elliott Management recently reduced his position in Juniper Networks, Inc. (NYSE:JNPR). Singer is the founder of Elliott Management which currently manages approximately $6.8 billion in equity assets.

    On July 24 Singer sold 27,519,345 shares of Juniper from his portfolio reducing his stake to 11,721,655 shares or 4.72% of his portfolio. After the sell his weighting in technology was reduced to 26.41% with his largest technology holding in EMC Corporation (NYSE:EMC).


  • Pfizer Increases Annual Earnings Guidance for 2015

    Pfizer, Inc. (NYSE:PFE) reported its second-quarter 2015 earnings on July 28. For the quarter, revenue was $11.85 billion versus analysts’ average estimate of $11.42 billion. Earnings per share of $0.56 also beat analysts’ earnings per share consensus estimate by $0.04. Overall, earnings for the quarter lagged slightly from the second quarter of 2014 with total revenue down 7% from the comparable quarter and earnings per share down 3.5%. However, an improved outlook for the second half of 2015 led management to increase its annual revenue and earnings per share guidance for the year.

    The downturn in total revenue for the second quarter was primarily attributed to sales from the firm’s Established Products business segment which fell 22% from the comparable quarter to $5.09 billion. The firm operates within two business segments which include Established Products and Innovative Products. In Innovative Products Pfizer grew operational revenue by 17% for a total increase of 8%. Revenue in Innovative Products totaled $6.63 billion of which the majority was generated from the firm’s Global Innovative Pharma division which accounted for 53% of revenue at $3.50 billion. Sales growth in Innovative Products for the quarter was driven by Global Vaccines and Global Oncology which increased revenue by 44% and 25%, respectively.


  • Aerospace And Defense's Stocks With Lowest P/E

    Recently, GuruFocus introduced a new page that summarizes each industry’s ratios. According to that page, the Aerospace and Defense industry has a median P/E of 20.90 and the following are the biggest companies (based on market cap) that are trading with the lowest P/E ratio.

    United Technologies Corp (UTX)


  • Yelp Shares Tumbling After Q2 Performance

    Ken Griffin´s Citaldel Investment Group upped by 432% his position in Yelp Inc. (NYSE:YELP) to $32.8 million, according to the fund's latest filing. Further, Ken Fisher (Trades, Portfolio) has taken a long position in the stock, initiating a new position with 106,900 shares.

    Despite this bullish sentiment, Yelp shares dipped 23% to $25.80 in pre-hours trading after the company beat Q2 revenue estimates but missed on EPS and lowered its revenue guidance for the year, citing slower sales headcount growth and the elimination of its brand-advertising product.


  • Ken Fisher's Top Buys in Q2 2015

    Ken Fisher (Trades, Portfolio) is the chief executive officer and chief investment officer of Fisher Investments and his portfolio has a total value of $49,932 million. The following are his most heavily weighted trades during the second quarter of 2015 :

    He increased his stake in Roche Holding AG (RHHBY) by 409.71% with an impact of 0.80% on his portfolio. The company is a pharmaceutical and diagnostic company. It researches and produces medicines in oncology, infectious diseases, immunology and neuroscience. It has more than 66 new molecular entities in its pipeline.


  • Ken Fisher's most weighted buys in Q2 2015

    Ken Fisher (Trades, Portfolio) is the chief executive officer and chief investment officer of Fisher Investments and at the end of Q2, his portfolio had a total value of $49,932 million. During the Q2 he increased his stake in 281 stocks and started positions in 62 new holdings.

    The following are the most weighted buys/increases :


  • Reasons for a Bullish Outlook on FedEx

    FedEx Corporation (NYSE:FDX) is a leader in global express delivery services, which provides guaranteed domestic and international air express, residential and business ground package delivery, heavy freight and logistics services.

    Mason Hawkins' Southeastern Asset Management has a big position on the stock. The stake contains 5.4 million shares valued at $897.5 million as of March 2015, and represents 5.63% of his portfolio. 


  • KLA Tencor Is a Dividend Growth Stock

    In this article, let's take a look at KLA Tencor Corp.(NASDAQ:KLAC), a $8.29 billion market cap company, which is the world's leading manufacturer of yield monitoring and process control systems for the semiconductor industry.

    Key Aspects


  • Ken Fisher Sells Stake In Outerwall Inc.

    Ken Fisher (Trades, Portfolio) is the Chief Executive Officer and Chief Investment Officer of Fisher Investments. He designed the firm with one vision in mind: putting clients at the forefront and building an investment management firm to support long-term investment objectives.

    Last quarter, Fisher Investments sold out its stake in Outerwall Inc (OUTR) that is a provider of automated retail solutions offering convenient products and services that benefit consumers and drive incremental retail traffic and revenue for retailers. The Company's automated retail includes its Redbox segment where consumers can rent or purchase movies from self-service kiosks, and its Coin segment where consumers can convert their coin to cash or stored value products at coin-counting self-service kiosks.


  • Ken Fisher Substantially Increases Stake In Infosys

    Ken Fisher (Trades, Portfolio) of Fisher Asset Management has substantially increased stake in Infosys (NYSE:INFY) according to the latest regulatory filing and the Real Time Update available from GuruFocus. Fisher has increased his stake by 139.2% to 21,667,231 shares at an average price of $16.26.

    I also have a bullish view on Infosys and this article discusses the reasons to be optimistic on the company. Infosys will be declaring its 1Q15 results on July 21, 2015 and I believe that investors can also look for some near-term exposure in today’s trade.


  • Investor, Forbes Columnist Ken Fisher Takes Stake in Alibaba

    During the second quarter, Forbes columnist and founder of Fisher Asset Management, Ken Fisher (Trades, Portfolio), purchased 57 new holdings, according to data reported by GuruFocus Real Time Picks.

    The majority of Fisher’s portfolio at the multi-billion dollar money management firm is held in the financial services sector at 22.5%, followed by 16.2 each in technology and healthcare stocks.  

  • Dril-Quip Is Trading At Attractive Valuations

    Dril-Quip (NYSE:DRQ), which manufactures, sells and services engineered offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications, is trading at attractive valuations and can be considered at current levels for long-term exposure. This article discusses the rationale behind this view and the valuation perspective.

    I must mention at the onset that Ken Fisher (Trades, Portfolio) of Fisher Asset Management is holding 386,816 shares of the company and Joel Greenblatt (Trades, Portfolio) of Gotham Asset Management is holding 155,288 shares. Therefore, the stock has generated interest from Gurus and considering the attractive valuations, which I will discuss in the article, the stock can generate further interest from hedge fund managers. Investors can track real time fund activity in Guru Focus Real Time Picks.


  • What to Expect From Today's Bank of America's Earnings?

    Bank of America Corporation (NYSE:BAC) is going to report second quarter earnings today, and I think it is a good moment to discuss if this stock represents an appealing investment. We are going to answer the question, but first, let´s take a look at the hedge fund´s positions.

    The largest shareholder of the bank at the end of the first quarter was Bruce Berkowitz (Trades, Portfolio)´s Fairholme Capital Management, with 76.75 million shares and the stake representing 22.1% of his 5.3 billion portfolio. In second and third place we found Ken Fisher (Trades, Portfolio) and Richard Pzena (Trades, Portfolio), with 42.0 and 30.9 million shares, respectively.


  • Manning & Napier Advisors' Most Weighted Trades in Q2 2015

    For more than four decades, Manning & Napier Advisors, Inc has been guiding individual and institutional clients toward their financial goals. Their independent, opportunistic style can help clients meet a wide variety of investment needs even in the most challenging environments. They’re majority employee-owned, which means they’re able to give clients the kind of service and commitment that only comes from people who have a direct stake in success.

    Its portfolio is composed of 352 stocks and has a total value of $22,955 Mil.


  • Ken Fisher for Forbes - 'Bet On The Bulls, Not The Sheep'

    While it’s often claimed that this bull market is the least appreciated in memory, the problem is our memories. As detailed in my 2011 book, Markets Never Forget (but People Do), our memories of past markets are incredibly inaccurate. This bull market turns out to be pretty darned normal for one following such a huge bear market.

    The biggest bear markets have historically created enough skeptics to make the subsequent bull runs feel unjustified or death-defying. That’s the famous “wall of worry” that we’re currently climbing over. Remember Sir John Templeton’s famous phrase, “The four most dangerous words in investing are ‘This time it’s different.’ ” It isn’t really.


  • Despite Recent Downgrade, This Ecommerce Giant is a Buy (NASDAQ:AMZN) was downgraded by analysts at Evercore ISI from a “buy” rating to a “hold” rating in a report to clients. The target price was increased to $460.00 from $440.00. Considering the last close of $ 440.1, this suggests an upside potential of 4.5% from the company’s current price.

    Analyst Ken Sena commented, "We’re reducing our Amazon rating to HOLD from BUY as shares now trade within a close range of our $460 target. While retail and Amazon Web Services trends appear on track and N/T operating margins seemed poised for upside this quarter and next, our reduced rating recognizes the strong run in shares, now up 45% YTD, and the growing capital investment we are seeing through leasing activity, making modeling upside on the basis of FCF increasingly difficult." Ken Sena continued saying: “As we look back historically, we find the use of capital leases in place of standard Capex has steadily grown – from one-third of total capital investment (Capex + PP&E Acq. under Capital Leases) in 1Q13 ($340m) to over one-half in 1Q15 ($954m). While we understand the rationale here, as Amazon takes advantage of a low interest rate environment, it nevertheless masks the true capital intensity of the business when considering standard FCF measures as cash payments are spread out and flow through financing activities (as opposed to Capex through investing activities) on the C/F.”


  • Ford's Economies of Scale and the Three F's

    In this article, let's take a look at Ford Motor Co. (NYSE:F), the second-largest U.S. producer of cars and trucks. The stock is trading between its 52-week price range (about 14% above the minimum and 16% below the peak), so this makes investors show increased interest as price nears either the high or the low.

    Ford operates in a very cyclical auto industry, characterized by a very important competition. For the next years, the big challenge for the firm is increasing market share, but this will not be easy, because Ford operates in highly competitive markets. In addition, China and India's automakers are increasing the market share by adopting cost leadership strategies. The evolution of market share in the U.S. and Europe remain relatively stable.


  • Paul Tudor Jones' Top Three Stocks Deliver Positive Returns

    Paul Tudor Jones (Trades, Portfolio)´ Tudor Investment Corp disclosed an equity portfolio valued at some $3.13 billion at the end of the first quarter of 2015. The equity portfolio is mainly invested in Technology (22%), Health Care (20%) and Finance (16%) stocks.

    In this article we will look into the top three holdings held at the end of Q1. Among the 10 largest holdings from Tudor Investment’s equity portfolio (which comprises 20.95% of the total portfolio value), the three top positions are: Automatic Data Processing, Inc. (NASDAQ:ADP), NCR Corporation (NYSE:NCR) and Pfizer Inc. (NYSE:PFE).


  • FedEx Is a Long-Term Buy

    In this article let's take a look at FedEx Corporation (NYSE:FDX), the leader in global express delivery services, which provides guaranteed domestic and international air express, residential and business ground package delivery, heavy freight and logistics services.

    Although revenue increased, when compared to the same quarter one year before, it was below the forecast. Also, the company reported weaker earnings than expected from analyst estimates. Earnings of $2.66 per share missed estimates of $2.68. Among the reasons we found were the currency translation and the falling fuel surcharges. After the earnings were released, the stock price plummeted by 3% to $176. In what we consider a five-year period, EPS has grown by 14% annually.


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