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Brian Rogers' Top Five Fourth Quarter Holdings

January 15, 2014 | About:
Monica Wolfe

Monica Wolfe

133 followers

Brian Rogers of the T. Rowe Price Equity Income Fund recently released his fourth quarter portfolio updates which report that he has three new holdings, 14 increases, 14 reductions and six stocks that he sold out of.   The guru’s most recent portfolio holds 115 stocks valued at $27.65 billion.

Brian Rogers has been the portfolio manager of T. Rowe Price Equity Income Fund since its inception in 1985. Rogers looks for common stocks of established firms that are expected to pay above-average dividends. The following five companies are the five stocks that Rogers holds the largest stake in.

General Electric (GE)

Rogers’ largest holding is in General Electric where the guru holds on to 31,286,500 shares of the company’s stock. His position in the company takes up 3.2% of his portfolio and 0.31% of the company’s shares outstanding.

Rogers has not altered his position in GE since 2011Q4

Rogers’ holding history as of the fourth quarter:

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GE is a diversified infrastructure and financial services company. The company provides products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content and industrial products.

General Electric’s historical revenue and net income:

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The company announced that they had launched 14 new industrial internet productivity technologies which will improve the outcomes for aviation, oil & gas, transportation, healthcare and energy.

The Peter Lynch Chart suggests that the company is currently overvalued:

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General Electric has a market cap of $272.87 billion. Its shares are currently trading at around $26.97 with a P/E ratio of 19.90, a P/S ratio of 1.92 and a P/B ratio of 2.20. The company had an annual average earnings growth of 7.30% over the past ten years.

JPMorgan Chase & Co. (JPM)

Rogers’ second largest position is currently in JPMorgan Chase & Co. As of the third quarter Rogers holds on to 13,781,200 shares of the company’s stock, representing 2.9% of his total portfolio and 0.36% of the company’s shares outstanding.

During the third quarter Rogers sold 250,000 shares of the trust in the price range of $50.75 to $58.48, with an estimated average quarterly price of $54.78. The share price has since then increased 5.4%.

Rogers’ holding history as of the fourth quarter:

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JPMorgan Chase is a financial services firm and banking institutions in the United States of America with operations worldwide.

JPMorgan Chase’s historical revenue and net income:

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The analysis on the company reports that JPMorgan Chase’s dividend yield is close to a one-year low, their operating margin is expanding, the company has shown predictable revenue and earnings growth and the price is nearing a 10-year high.

The Peter Lynch Chart suggests that JPMorgan is currently undervalued:

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JPMorgan Chase has a market cap of $217.06 billion. Its shares are currently trading at around $57.74 with a P/E ratio of 13.30, a P/S ratio of 2.27 and a P/B ratio of 1.10. The dividend yield of JPMorgan is at 2.49%. The company had an annual average earnings growth of 1.90% over the past ten years.

Chevron Corp (CVX)

Rogers’ third largest position is in Chevron. As of the close of the quarter the guru held on to 5,366,000 shares. His position represents 2.4% of his total portfolio and 0.28% of the company’s shares outstanding.

Rogers has maintained the same position in Chevron since 2012Q3.

Rogers’ holding history as of the close of the fourth quarter:

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Chevron manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to U.S. and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations, power generation and energy services.

Chevron’s historical revenue and net income:

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The analysis on Chevron reports that the company has issued $8.4 billion of debt over the past three years, its revenue has been in decline over the past year, the price is nearing a 10-year high and its operating margin is expanding.

The Peter Lynch Chart suggests that the company is currently undervalued:

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Chevron has a market cap of $229.95 billion. Its shares are currently trading at around $119.57 with a P/E ratio of 9.90, a P/S ratio of 0.99 and a P/B ratio of 1.60. Its dividend yield is at 3.26% currently. The company had an annual average earnings growth 12.50% over the past ten years.

GuruFocus rated Chevron the business predictability rank of 2-star.

Wells Fargo & Co. (WFC)

Rogers’ fourth largest holding comes from Wells Fargo & Co. The guru currently holds 13,319,600 shares of the company’s stock. His position in the company represents 2.2% of his total portfolio and 0.25% of the company’s shares outstanding.

Rogers has held the same position in Wells Fargo since 2011Q4.

Rogers’ historical holding history of Wells Fargo:

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Wells Fargo is a financial services companies, providing a range of retail banking and brokerage, asset and wealth management and corporate and investment banking products and services to customers.

Wells Fargo’s historical revenue and net income:

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The analysis on Wells Fargo reports that the company’s operating margin is expanding, its dividend yield is close to a 3-year high, its price is near a 10-year high and its revenue has been in decline over the past three years.

The Peter Lynch Chart suggests that the company is currently undervalued:

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Wells Fargo has a market cap of $240.15 billion. Its shares were traded at around $45.59 with a P/E ratio of 12.00, a P/S ratio of 2.88 and a P/B ratio of 1.60. The company offers a dividend yield of 2.52%. Wells Fargo had an annual average earnings growth of 3.70% over the past ten years.

Exxon Mobil Corporation (XOM)

Rogers’ fifth largest holding is in Exxon Mobil where the guru holds on to 5,564,200 shares of the company’s stock.  His position makes up for 2% of his total portfolio as well as 0.13% of the company’s shares outstanding.

The guru has held on to the same position in Exxon Mobil since the third quarter of 2013. 

Rogers’ historical holding history of Exxon Mobil:

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Exxon Mobil’s main business is energy, involving exploration for, and production of, crude oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products. It is also a manufacturer and marketer of commodity petrochemicals.

Exxon Mobil’s historical revenue and earnings growth:

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The analysis on Exxon Mobil reports that the company’s asset growth is currently faster than its revenue growth, its price is sitting near a 10-year high and its revenue has been in decline over the past year.  The analysis also notes that the company has issued $5.5 billion of debt over the past three years, but that its debt level is acceptable.

The Peter Lynch Chart suggests that the company is currently undervalued:

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Exxon Mobil has a market cap of $431.52 billion.  Its shares are currently trading at around $98.78 with a P/E ratio of 13.00, a P/S ratio of 1.00 and a P/B ratio of 2.60.  The company had an annual average earnings growth of 10.90% over the past ten years.

GuruFocus rated Exxon Mobil the business predictability rank of 2.5-star.

Check out Brian Rogers’ complete third quarter portfolio here.

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Rating: 2.3/5 (4 votes)

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