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Sally Jones
Sally Jones
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Ken Fisher Cuts Lion’s Share in Four Telecoms in US, Europe, China

November 07, 2013 | About:

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. (NYSE:VZ), Europe's Vodafone Group PLC (VOD) and China-based China Mobile Ltd. (NYSE:CHL).

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:

1383857633306.png

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:

1383857877827.png

China Mobile Ltd. (NYSE: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:

1383858207089.png

Verizon Communications Inc. (NYSE: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:

1383858367030.png

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:



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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 3.0/5 (2 votes)

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