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Einhorn Increases AAPL and Decreases Nine

Monica Wolfe

Monica Wolfe

127 followers
David Einhorn is president of Greenlight Capital (a value-oriented investment advisor). GuruFocus notes in his investment philosophy that Einhorn believes an investment approach emphasizing intrinsic value will achieve consistent absolute investment returns and safeguard capital regardless of market conditions.

Einhorn’s current portfolio consists of 38 stocks (6 new), valued at over $6.553 billion. In the most recent quarter, David Einhorn increased his holdings in one stock and decreased his holdings in nine companies. Highlighted below is Einhorn’s one increase as well as his top five decreased holdings.

Increases

Apple (AAPL)

In the first quarter, Einhorn increased his holdings in Apple 83.45%. Einhorn purchased 1,090,700 shares at an average price of $466.17 per share. Since his buy the price per share has decreased 6.6%. Einhorn currently holds on to 2,397,706 shares of Apple which make up 16.2% of his total portfolio.



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Apple has dropped approximately $200 per share from the 3rd quarter of 2012 average price.

Apple is a guru-favorite company that designs, manufactures and markets computers, phones, music and video players and a variety of software and networking solutions.

Despite Apple’s recent decline in share prices, they remain a stable company. GuruFocus has given them a business predictability ranking of 4.5 stars. The company has a market cap of $400.66 billion, a P/E ratio of 10.50 and a P/S ratio of 2.4. The company’s most recent dividend payout equaled $3.05 per share, as declared on May 9, 2013. Apple had an annual average earnings growth of 68.9% over the past five years. Apple is currently trading at $432.26 per share.

Decreases

Republic Airways Holdings (RJET)

During the first quarter Einhorn decreased his holdings in Republic Airways by -71.17%. Einhorn sold a total of 2,428,767 shares at an average price of $9.45. Since his sell the price per share of Republic Airways has increased 15.1%. Einhorn still holds on to 984,033 shares of Republic Airways. His holdings in the company make up a total of 0.17% of his total portfolio.



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Republic Airways offers scheduled passenger services through its air carrier subsidiaries: Chautauqua Airlines, Shuttle America Corp, Republic Airline and Frontier Airlines. The company’s branded operations consist of Airbus operation at Frontier and include aircrafts operated by Chautauqua and Republic marketed as Frontier.

Republic Airways has a market cap of $548.4 million, a P/E ratio of 10.90 and a P/S ratio of 0.20. The company is currently trading at $10.92 per share. Republic Airways has seen an earnings growth of 299.5% in the past 12 months.

Symmetricom (SYMM)

David Einhorn reduced is holdings in Symmetricom by -67.89% in the first quarter. Einhorn sold 1,709,846 shares at an average price of $5.15 per share. Since his sell the price has increased 2.3% from his average sell price.



Einhorn still holds on to 549,050 shares of Symmetricom. His current holdings in the company make up a miniscule 0.038% of his total portfolio.

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Symmetricom is a source of precise timekeeping technologies, instruments and solutions worldwide. It provides timekeeping in GPS satellites, national time references and national power grids as well as in critical military and civilian networks, including those that enable next generation data, voice, mobile and video networks and services. Its product portfolio includes atomic instruments and components, hydrogen masers, GPS instrumentation, performance measurement and management tools and software solutions that require precise timekeeping.

Symmetricom is currently trading at $5.27 per share. It has a market cap of $216 million, a P/E ratio of 82.30 and a P/S ratio of 1.00.

Microsoft Corporation (MSFT)

In the first quarter Einhorn dropped 4,750,000 shares of Microsoft, representing a -43.86% decrease in his holdings of the company. His shares sold for an average price of $27.69 per share; since this sell the price per share of Microsoft has increased 24% from his average sell price.



The guru still owns 6,079,544 shares of Microsoft, making up 2.7% of his total portfolio.

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Microsoft is a guru-favorite company that generates revenue by developing manufacturing, licensing and supporting a wide range of software products and services for many different types of computing devices.

Microsoft is currently trading at $34.34; it has a market cap of $284.97 billion, a P/E ratio of 17.80 and a P/S ratio of 3.8. GuruFocus awarded the company a 4.5-star business predictability ranking. Microsoft had an average annual earnings growth of 13.9% over the past ten years.

Seagate Technology PLC (STX)

Einhorn reduced his stake in Seagate Technology by -35.59% in the most recent quarter. Einhorn sold a total of 2,978,796 shares at an average price of $34.05 per share. Since his sell the price per share has increased 20.9% from the average sell price. Einhorn still holds 5,392,100 making up 3% of his total portfolio.



Click here for the Holding History of other gurus

Seagate Technology is a provider of electronic data storage products. Its main products are hard disk drives. Hard disk drives are devices that store digitally encoded data on rapidly rotating disks with magnetic surfaces. Disk drives continue to be the main medium of mass data storage due to their performance attributes: high quality, cost effectiveness and energy efficiencies.

Seagate Technology’s market cap is at $14.77 billion; it has a P/E ratio of 6.60 and a P/S ratio of 1.05. The company had an annual earnings growth of $32.4% over the past 12 months. The company most recently declared a dividend of $0.38 per share on May 13, 2013.

CBS Corporation (CBS)

David Einhorn reduced his holdings in CBS by -33.33%. Einhorn sold 1,792,894 shares in the first quarter at an average price of $42.85 per share. Since this sell the price per share of CBS has increased 19.8% from Einhorn’s average sell price.



Einhorn still owns 3,585,787 shares of CBS. His holding in CBS makes up 2.6% of his total portfolio.

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CBS is a mass media company with operations in the following segments: Television, Radio, Outdoor and Parks/Publishing. The company owns 39 broadcast television stations.

CBS has a market cap of $32.02 billion, a P/E ratio of 21.30 and a P/S ratio of 2.30. The company is currently trading around $51.30 per share. CBS Corporation’s earnings growth has increased 16.2% in the past year.

Einhorn also decreased his holdings in Delphi Automotive (DLPH) by -25%, Legg Mason (LM) by -24.64%, Computer Sciences Corporation (CSC) by -23.33% and NCR Corporation (NCR) by -8.77%.

You can view David Einhorn’s current portfolio here. Also check out David Einhorn’s Undervalued Stocks, Top Yield Stocks and High Growth Companies.

Rating: 4.3/5 (3 votes)

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