The following are his largest sells of the T. Rowe Price Equity Income Fund in the second quarter.
The fund reduced its stake in Apache Corp. (APA) by 35.07% and with an impact of -0.55% on the portfolio.
The company is an independent energy company that explores, develops and produces natural gas, crude oil and natural gas liquids. It has interests in six countries: the U.S., Canada, Egypt, Australia, the U.K. North Sea (North Sea)and Argentina.
First quarter net loss of $489 million, or $1.29 per diluted common share, was driven primarily by low commodity prices. Net cash provided by continuing operating activities was approximately $276 million.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of -185.32% and ROA of -63.32%, which are underperforming 90% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 2 out of 10, with cash to debt 0.12 that is below the industry median of 0.48.
Dodge & Cox is the largest shareholder of the company among the gurus, with 7.73% of outstanding shares followed by Chris Davis (Trades, Portfolio) with 4.54%, Bill Nygren (Trades, Portfolio) with 2% and T Rowe Price Equity Income Fund (Trades, Portfolio) with 1.18%.
The firm reduced its stake in CA Inc. (CA) by 65.03% and with an impact of -0.32% on the portfolio.
The company is a provider of enterprise information technology software and solutions. It develops and delivers software and services that help organizations manage and secure their IT infrastructures and deliver more flexible IT services. Fourth quarter revenue grew 1% year over year and GAAP income from continuing operations increased 30%.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 14.15% and ROA of 7.17% that are outperforming 71% of the companies in the Global Software - Infrastructure industry. Financial strength has a rating of 6 out of 10, with cash to debt of 1.44 that is below the industry median of 11.14.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.61% of outstanding shares followed by T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.28%, Joel Greenblatt (Trades, Portfolio) with 0.22%, Private Capital (Trades, Portfolio) with 0.12%, Jeremy Grantham (Trades, Portfolio) with 0.1% and Ken Fisher (Trades, Portfolio) with 0.07%.
The fund reduced its stake in Merck & Co Inc. (MRK) by 25.58% and with an impact of -0.3% on the portfolio.
Merck is a health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health and consumer care products. First quarter total sales decreased 1% year over year and non-GAAP EPS grew 5%, including 4% negative impact from foreign exchange.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 10.11% and ROA of 4.50% that are outperforming 54% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 6 out of 10, with cash to debt 0.50 that is below the industry median of 3.46.
Vanguard Health Care Fund (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 1.76% of outstanding shares followed by Barrow, Hanley, Mewhinney & Strauss with 0.96%, Dodge & Cox with 0.89%, Ken Fisher (Trades, Portfolio) with 0.24% and T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.13%.
The firm reduced its stake in Johnson & Johnson. (JNJ) by 14.17% and with an impact of -0.28% on the portfolio.
It is a holding company, which is engaged in the research and development, manufacture and sale of products in the health care field within its Consumer, Pharmaceutical and Medical Devices, and Diagnostics business segments. During the last quarter sales had an increase of 3.9% as compared to the second quarter of 2015 and operational sales results increased 5.3% and the negative impact of currency was 1.4%.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 21.70% and ROA of 11.59% that are outperforming 83% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 7 out of 10, with cash to debt 1.71 that is below the industry median of 3.46.
Barrow, Hanley, Mewhinney & Strauss is the largest shareholder of the company among the gurus, with 0.56% of outstanding shares followed by Ken Fisher (Trades, Portfolio) with 0.39%, Jeremy Grantham (Trades, Portfolio) with 0.33%, Donald Yacktman (Trades, Portfolio) with 0.26% and Yacktman Fund (Trades, Portfolio) with 0.13%.
The fund closed its stake in EMC Corp. (EMC) with an impact of -0.26% % on the portfolio.
The company supports the businesses and service providers to transform information technology (IT) operations to an as a service model (ITaaS). It operates in three segments: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 9.67% and ROA of 4.44% that are outperforming 66% of the companies in the Global Data Storage industry. Financial strength has a rating of 7 out of 10, with cash to debt 1.53 that is above the industry median of 1.45.
Dodge & Cox is the largest shareholder of the company among the gurus, with 4.73% of outstanding shares followed by Seth Klarman (Trades, Portfolio) with 2.65%, Paul Singer (Trades, Portfolio) with 2.15% and PRIMECAP Management (Trades, Portfolio) with 1.72%.
The firm reduced its stake in General Electric Co. (GE) by 7.74% and with an impact of -0.26% on the portfolio.
GEÂ is a diversified company with products and services that range from aircraft engines, power generation, oil and gas production equipment, household appliances, medical imaging, business and consumer financing and industrial products. First quarter GAAP EPS from continuing operations, 2 cents compared to 45 cents in the first quarter a year before.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 7.08% that is outperforming and ROA of 1.38% that is underperforming 66% of the companies in the Global Diversified Industrials industry. Financial strength has a rating of 4 out of 10, with cash to debt 0.58 that is below the industry median of 1.10.
Ken Fisher (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 0.34% of outstanding shares followed by T. Rowe Price Equity Income Fund (Trades, Portfolio) with 0.23%, Bill Nygren (Trades, Portfolio) with 0.16%, Warren Buffett (Trades, Portfolio) with 0.12% and First Pacific Advisors (Trades, Portfolio) with 0.11%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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