Guru Ken Fisher of Fisher Asset Management LLC reduced and sold numerous positions in the third quarter of 2013. Here’s a review of four of his sells in telecommunications in which he reduced his position with telecom giants by 95% or more.
As of the quarter ending Sept. 30, 2013, Fisher drastically reduced his positions in AT&T Inc. (T), Verizon Communications Inc. (VZ, Financial), Europe's Vodafone Group PLC (VOD) and China-based China Mobile Ltd. (CHL, Financial).
Here are the trading details and company updates.
Vodafone Group PLC (VOD): Reduced
Impacts Portfolio: -0.66%
Remaining Shares: 408,413
Up 37% over 12 months, Vodafone Group PLC has a market cap of $176.84 billion; its shares were traded at around $36.50 with a P/E of 248.30. The dividend yield is 4.10%.
Vodafone recently announced its intention to sell its US group (with a 45% interest in Verizon Wireless) to Verizon Communications Inc. for around $130 billion. According to a company press release, Verizon will pay in cash and Verizon shares. No completion date has been set.
Guru Action: As of Sept. 30, 2013, Ken Fisher reduced his position by 95.56%, selling 8,782,906 shares at an average price of $31.01 and gaining 17.7%.
Across a five-year history, Guru Fisher has averaged a 28% gain on 11,984,583 shares bought at an average price of $28.62 per share. Selling 11,576,170 shares at an average price of $29.95 per share, he has gained 22%.
Track historical pricing, revenue and net income:
AT&T Inc. (T): Reduced
Impacts Portfolio: -0.58%
Remaining Shares: 133,015
Up 6% over 12 months, AT&T Inc. has a market cap of $185.54 billion; its shares were traded at around $35.22 with a P/E of 24.70. The dividend yield is 5.03%.
Guru Action: As of Sept. 30, 2013, Ken Fisher reduced his position by 97.92%, unloading 6,251,275 shares at an average price of $34.76, gaining 1.3%.
Guru Fisher has averaged a 4% loss on 9,941,696 shares bought at an average price of $36.66 per share. Selling 26,002,000 shares at an average price of $28.80 per share, he has gained 22%.
Track historical pricing, revenue and net income:
China Mobile Ltd. (CHL): Reduced
Impacts Portfolio: -0.5%
Remaining Shares: 63,935
Down 6% over 12 months, China Mobile Ltd. has a market cap of $210.42 billion; its shares were traded at around $52.34 with a P/E of 10.10. The dividend yield is 3.80%.
Incorporated under the laws of Hong Kong in 1997, China Mobile Ltd. provides a range of mobile telecommunications services in all 31 provinces, autonomous regions and directly-administered municipalities in Mainland China as well as in Hong Kong. The company offers mobile telecommunications services using a pan-European mobile telecommunications system based on digital transmission and mobile telecommunications network architecture with roaming capabilities.
Guru Action: As of Sept. 30, 2013, Ken Fisher reduced his position by 98.33%, unloading 3,763,981 shares at an average price of $54.11, for a loss of 3.3%.
Overall, Fisher has averaged a 5% loss on 3,986,982 shares bought at an average price of $55.20 per share. Selling 3,923,047 shares at an average price of $54.18 per share, he also had a loss of 3%.
Track historical pricing, revenue and net income:
Verizon Communications Inc. (VZ): Reduced
Impacts Portfolio: -0.13%
Remaining Shares: 22,078
Up 18% over 12 months, Verizon Communications Inc. has a market cap of $143.8 billion; its shares were traded at around $50.25 with a P/E of 66.00. The dividend yield is 4.10%.
Guru Action: As of Sept. 30, 2013, Ken Fisher reduced his position by 97.72%, selling 947,320 shares at an average price of $48.81, gaining 3%.
Over a remarkable gaining history, Guru Fisher has averaged a 25% gain on 1,765,071 shares bought at an average price of $40.08 per share. Selling 1,791,544 shares at an average price of $40.36 per share, he has also gained 25%.
Track historical pricing, revenue and net income:
Ken Fisher is the son of Philip A. Fisher, another legendary investor. Often going against the grain of Wall Street, Guru Ken Fisher has a reputation for making accurate calls. The third quarter portfolio update of Fisher Asset Management LLC lists 499 stocks, with 57 new stocks. The total portfolio value is $4.05 billion, with a quarter-over-quarter turnover of 8%.
Check out all of Ken Fisher’s trades and history.
A Summary of Ken Fisher’s updated top buys, sells, and holdings:
Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.
GuruFocus "Real Time Picks" reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction.
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As of the quarter ending Sept. 30, 2013, Fisher drastically reduced his positions in AT&T Inc. (T), Verizon Communications Inc. (VZ, Financial), Europe's Vodafone Group PLC (VOD) and China-based China Mobile Ltd. (CHL, Financial).
Here are the trading details and company updates.
Vodafone Group PLC (VOD): Reduced
Impacts Portfolio: -0.66%
Remaining Shares: 408,413
Up 37% over 12 months, Vodafone Group PLC has a market cap of $176.84 billion; its shares were traded at around $36.50 with a P/E of 248.30. The dividend yield is 4.10%.
Vodafone recently announced its intention to sell its US group (with a 45% interest in Verizon Wireless) to Verizon Communications Inc. for around $130 billion. According to a company press release, Verizon will pay in cash and Verizon shares. No completion date has been set.
Guru Action: As of Sept. 30, 2013, Ken Fisher reduced his position by 95.56%, selling 8,782,906 shares at an average price of $31.01 and gaining 17.7%.
Across a five-year history, Guru Fisher has averaged a 28% gain on 11,984,583 shares bought at an average price of $28.62 per share. Selling 11,576,170 shares at an average price of $29.95 per share, he has gained 22%.
Track historical pricing, revenue and net income:
AT&T Inc. (T): Reduced
Impacts Portfolio: -0.58%
Remaining Shares: 133,015
Up 6% over 12 months, AT&T Inc. has a market cap of $185.54 billion; its shares were traded at around $35.22 with a P/E of 24.70. The dividend yield is 5.03%.
Guru Action: As of Sept. 30, 2013, Ken Fisher reduced his position by 97.92%, unloading 6,251,275 shares at an average price of $34.76, gaining 1.3%.
Guru Fisher has averaged a 4% loss on 9,941,696 shares bought at an average price of $36.66 per share. Selling 26,002,000 shares at an average price of $28.80 per share, he has gained 22%.
Track historical pricing, revenue and net income:
China Mobile Ltd. (CHL): Reduced
Impacts Portfolio: -0.5%
Remaining Shares: 63,935
Down 6% over 12 months, China Mobile Ltd. has a market cap of $210.42 billion; its shares were traded at around $52.34 with a P/E of 10.10. The dividend yield is 3.80%.
Incorporated under the laws of Hong Kong in 1997, China Mobile Ltd. provides a range of mobile telecommunications services in all 31 provinces, autonomous regions and directly-administered municipalities in Mainland China as well as in Hong Kong. The company offers mobile telecommunications services using a pan-European mobile telecommunications system based on digital transmission and mobile telecommunications network architecture with roaming capabilities.
Guru Action: As of Sept. 30, 2013, Ken Fisher reduced his position by 98.33%, unloading 3,763,981 shares at an average price of $54.11, for a loss of 3.3%.
Overall, Fisher has averaged a 5% loss on 3,986,982 shares bought at an average price of $55.20 per share. Selling 3,923,047 shares at an average price of $54.18 per share, he also had a loss of 3%.
Track historical pricing, revenue and net income:
Verizon Communications Inc. (VZ): Reduced
Impacts Portfolio: -0.13%
Remaining Shares: 22,078
Up 18% over 12 months, Verizon Communications Inc. has a market cap of $143.8 billion; its shares were traded at around $50.25 with a P/E of 66.00. The dividend yield is 4.10%.
Guru Action: As of Sept. 30, 2013, Ken Fisher reduced his position by 97.72%, selling 947,320 shares at an average price of $48.81, gaining 3%.
Over a remarkable gaining history, Guru Fisher has averaged a 25% gain on 1,765,071 shares bought at an average price of $40.08 per share. Selling 1,791,544 shares at an average price of $40.36 per share, he has also gained 25%.
Track historical pricing, revenue and net income:
Ken Fisher is the son of Philip A. Fisher, another legendary investor. Often going against the grain of Wall Street, Guru Ken Fisher has a reputation for making accurate calls. The third quarter portfolio update of Fisher Asset Management LLC lists 499 stocks, with 57 new stocks. The total portfolio value is $4.05 billion, with a quarter-over-quarter turnover of 8%.
Check out all of Ken Fisher’s trades and history.
A Summary of Ken Fisher’s updated top buys, sells, and holdings:
Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.
GuruFocus "Real Time Picks" reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction.
This feature is for Premium Members only.
If you are not a Premium Member, we invite you for a 7-day Free Trial.
