Dodge & Cox added three new stakes to its portfolio in the fourth quarter, but the transactions that had the greatest impact were the guru's sales of portions of existing stakes.
Dodge & Cox’s most noteworthy fourth-quarter transaction was the sale of more than 95% of its stake in Pfizer Inc. (PFE, Financial), a pharmaceutical company based in Groton, Connecticut. The guru sold 43,023,258 shares for an average price of $33.17 per share. The deal had a -1.36% impact on Dodge & Cox’s portfolio.
The remaining stake of 2,243,178 shares is 0.04% of Pfizer’s outstanding shares and 0.07% of Dodge & Cox’s total assets. Barrow, Hanley, Mewhinney & Strauss is Pfizer’s leading shareholder among the gurus with a stake of 53,862,996 shares. The stake is 0.87% of Pfizer’s outstanding shares and 2.59% of Barrow, Hanley, Mewhinney & Strauss’ total assets.
Pfizer has a P/E of 27.4, a forward P/E of 12.2, a P/B of 2.9 and a P/S of 3.9. GuruFocus gives Pfizer a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.
Pfizer sold for $30.38 per share Tuesday.
Dodge & Cox trimmed its stake in General Electric Co. (GE, Financial), a conglomerate based in Fairfield, Connecticut, by nearly 93%. The guru sold 26,968,448 shares for an average price of $29.73 per share. The transaction had a -0.69% impact on Dodge & Cox’s portfolio.
The remaining stake of 2,074,147 shares is 0.02% of General Electric’s outstanding shares and 0.06% of Dodge & Cox’s total assets. Ken Fisher (Trades, Portfolio) is General Electric’s leading shareholder among the gurus with a stake of 31,224,886 shares. The stake is 0.33% of General Electric’s outstanding shares and 1.94% of Fisher’s total assets.
General Electric has a forward P/E of 18, a P/B of 3 and a P/S of 2.7. GuruFocus gives General Electric a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.
General Electric sold for $31.06 per share Tuesday.
Dodge & Cox sold more than 80% of its stake in eBay Inc. (EBAY, Financial), an ecommerce company based in San Jose, California. The guru sold 17,587,728 shares for an average price of $27.68 per share. The deal had a -0.43% impact on Dodge & Cox’s portfolio.
The remaining stake of 4,348,406 shares is 0.37% of eBay’s outstanding shares and 0.12% of Dodge & Cox’s total assets. PRIMECAP Management (Trades, Portfolio) is eBay’s leading shareholder among the gurus with a stake of 7,856,500 shares. The stake is 0.67% of eBay’s outstanding shares and 0.22% of PRIMECAP’s total assets.
EBay has a P/E of 17, a forward P/E of 12.1, a P/B of 4.3 and a P/S of 3.4. GuruFocus gives eBay a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
EBay sold for $24.13 per share Tuesday.
Dodge & Cox reduced its stake in Juniper Networks Inc. (JNPR, Financial), a Sunnyvale, California-based networking equipment company, by almost 74%. Dodge & Cox sold 15,320,323 shares for an average price of $29.64 per share. The transaction had a -0.4% impact on the guru’s portfolio.
The remaining stake of 5,409,336 shares is 1.41% of Juniper Networks’ outstanding shares and 0.15% of Dodge & Cox’s total assets. Manning & Napier Advisors Inc. is Juniper Networks’ leading shareholder among the gurus with a stake of 8,051,396 shares. The stake is 2.1% of Juniper Networks’ outstanding shares and 1.3% of Manning & Napier’s total assets.
Juniper Networks has a P/E of 16.1, a forward P/E of 11.1, a P/B of 2.2 and a P/S of 2.1. GuruFocus gives Juniper Networks a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.
Juniper Networks sold for $25.93 per share Tuesday.
Dodge & Cox trimmed its stake in Baidu Inc. (BIDU, Financial), a Chinese Internet services company, by almost 33%. The guru sold 2,666,615 shares for an average price of $185.42 per share. The deal had a -0.37% impact on Dodge & Cox’s portfolio.
The remaining stake of 5,526,272 shares is 1.09% of Baidu’s outstanding shares and 1.03% of Dodge & Cox’s total assets. Frank Sands (Trades, Portfolio) is Baidu’s leading shareholder among the gurus with a stake of 9,629,786 shares. The stake is 1.89% of Baidu’s outstanding shares and 4.69% of Sands’ total assets.
Baidu has a P/E of 12.6, a forward P/E of 19.1, a P/B of 5.2 and a P/S of 6.9. GuruFocus gives Baidu a Financial Strength rating of 9/10 and a Profitability and Growth rating of 7/10.
Baidu sold for $188.40 per share Tuesday.
Dodge & Cox pared its stake in Microsoft Corp. (MSFT, Financial), a Redmond, Washington-based computer software and hardware and consumer electronics company, by more than 11%. The guru sold 8,232,869 shares for an average price of $52.81 per share. The transaction had a -0.37% impact on Dodge & Cox’s portfolio.
The remaining stake of 66,559,905 shares is 0.84% of Microsoft’s outstanding shares and 3.62% of Dodge & Cox’s total assets. Dodge & Cox is Microsoft’s leading shareholder among the gurus.
Microsoft has a P/E of 38.7, a forward P/E of 17, a P/B of 5.5 and a P/S of 5. GuruFocus gives Microsoft a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.
Microsoft sold for $54.07 per share Tuesday.
Dodge & Cox raised its stake in American Express Co. (AXP, Financial), a New York-based financial services company, by nearly 257%. The guru acquired 12,335,082 shares for an average price of $72.69 per share. The deal had a 0.84% on Dodge & Cox’s portfolio.
The stake, now 17,137,288 shares, is 1.78% of American Express’ outstanding shares and 1.17% of the guru’s total assets. Warren Buffett (Trades, Portfolio) is American Express’ leading shareholder among the gurus with a stake of 151,610,700 shares. The stake is 15.73% of American Express’ outstanding shares and 8% of Buffett’s total assets.
American Express has a P/E of 12.1, a forward P/E of 10.9, a P/B of 2.8 and a P/S of 1.9. GuruFocus gives American Express a Financial Strength rating of 4/10 and a Profitability and Growth rating of 8/10.
American Express sold for $60.61 per share Tuesday.
Dodge & Cox increased its stake in Anthem Inc. (ANTM, Financial), an Indianapolis-based managed health care company, by almost 118,838% with the purchase of 2,970,949 shares for an average price of $137.68 per share. The transaction had a 0.41% impact on Dodge & Cox’s portfolio.
The stake, now 2,973,449 shares, is 1.14% of Anthem’s outstanding shares and 0.41% of Dodge & Cox’s total assets. Anthem’s leading shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with a stake of 7,399,693 shares. The stake is 2.83% of Anthem’s outstanding shares and 1.54% of the guru’s total assets.
Anthem has a P/E of 15.1, a forward P/E of 11.6, a P/B of 1.6 and a P/S of 0.5. GuruFocus gives Anthem a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
Anthem sold for $140.87 per share Tuesday.
Dodge & Cox hiked its stake in Twenty-First Century Fox Inc. (FOX, Financial), a New York-based mass media company, by nearly 78,154%. Dodge & Cox purchased 13,989,500 shares for an average price of $29.39 per share. The deal had a 0.37% impact on Dodge & Cox’s portfolio.
The stake, now 14,007,400 shares, is 0.73% of Twenty-First Century Fox’s outstanding shares and 0.37% of Dodge & Cox’s total assets. Jeff Ubben (Trades, Portfolio) is Twenty-First Century Fox’s leading shareholder among the gurus with a stake of 47,326,334 shares. The stake is 2.47% of Twenty-First Century Fox’s outstanding shares and 8.92% of Ubben’s total assets.
Twenty-First Century Fox has a P/E of 23.7, a forward P/E of 13, a P/B of 3.7 and a P/S of 2.2. GuruFocus gives Twenty-First Century Fox a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.
Twenty-First Century Fox sold for $28 per share Tuesday.
Dodge & Cox purchased an 11,777,132-share stake in AstraZeneca PLC (AZN, Financial), a London-based pharmaceutical company, for an average price of $32.84 per share. The transaction had a 0.39% impact on Dodge & Cox’s portfolio.
The stake is 0.47% of AstraZeneca’s outstanding shares and 0.39% of Dodge & Cox’s total assets. Dodge & Cox is AstraZeneca’s leading shareholder among the gurus.
AstraZeneca has a P/E of 26.3, a forward P/E of 13.8, a P/B of 3.9 and a P/S of 2.8. GuruFocus gives AstraZeneca a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.
AstraZeneca sold for $28.17 per share Tuesday.
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