(GuruFocus, November 19, 2009) We viewed the Dodge & Cox top holdings earlier on in this article, and here is the top purchases during the third quarter of 2009:
No. 1: BANK OF NY MELLON CP (BK, Financial), Add: 0.34% of the portfolio - Total: 22,130,675 Shares
Bank of New York is a bank holding company and one of the world's larger financial institutions. They provide comprehensive financial services to individuals, small and mid-sized businesses, multinational corporations, financial institutions, governments and public agencies worldwide. Their products and services are organized into five business lines: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Markets and Retail Banking. Bank Of Ny Mellon Cp has a market cap of $32.19 billion; its shares were traded at around $26.76 with a P/E ratio of 10.4 and P/S ratio of 2.7. The dividend yield of Bank Of Ny Mellon Cp stocks is 1.3%.
Dodge & Cox increased from 12.8 million shares to 22.1 million shares.
No. 2: General Electric Company (GE, Financial), Add: 0.44% of the portfolio - Total: 134,040,119 Shares
General Electric is one of the largest and most diversified industrial corporations in the world. GE is engaged in developing, manufacturing and marketing a wide variety of products for the generation, transmission, distribution, control and utilization of electricity. Some of GE's products include major appliances; lighting products; industrial automation products; medical diagnostic imaging equipment; motors; electrical distribution and control equipment; locomotives; power generation and delivery products. General Electric Company has a market cap of $170.99 billion; its shares were traded at around $16.09 with a P/E ratio of 13.3 and P/S ratio of 0.9. The dividend yield of General Electric Company stocks is 2.5%. General Electric Company had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated General Electric Company the business predictability rank of 3.5-star.
Dodge & Cox increased from 112.7 million shares to 134 million shares.
No. 3: Nokia Corp. (NOK, Financial), Buy: 0.44% of the portfolio - Total: 23,974,200 Shares
Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges. Nokia Corp. has a market cap of $52.17 billion; its shares were traded at around $13.93 with a P/E ratio of 15.2 and P/S ratio of 0.7. The dividend yield of Nokia Corp. stocks is 2.8%. Nokia Corp. had an annual average earning growth of 12.1% over the past 10 years. GuruFocus rated Nokia Corp. the business predictability rank of 4.5-star.
Dodge & Cox increased from 11,000 shares to 24 million shares.
No. 4: Symantec Corp. (SYMC, Financial), Add: 0.59% of the portfolio - Total: 29,261,450 Shares
Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. The company is a leading provider of anti-virus protection, Internet content and e-mail filtering, and mobile code detection technologies to enterprise customers. Symantec Corp. has a market cap of $14.64 billion; its shares were traded at around $17.97 with a P/E ratio of 13.1 and P/S ratio of 2.4. Symantec Corp. had an annual average earning growth of 20.6% over the past 10 years. GuruFocus rated Symantec Corp. the business predictability rank of 3-star.
No. 5: Vodafone Group plc (VOD, Financial), Add: 1.52% of the portfolio - Total: 53,456,935 Shares
Vodafone AirTouch Plc is the world's largest international mobile communications firm. Their primary operation is in digital and analog cellular telephone networks of Vodafone. Vodafone Group Plc has a market cap of $120.41 billion; its shares were traded at around $22.9 with and P/S ratio of 1.9. The dividend yield of Vodafone Group Plc stocks is 5.3%.
Dodge & Cox increased from 230K shares to 53.5 million shares.
Conclusion
Money managers in Dodge & Cox apparently also see value in wireless communication service provider (VOD) and equipment provider (NOK).
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No. 1: BANK OF NY MELLON CP (BK, Financial), Add: 0.34% of the portfolio - Total: 22,130,675 Shares
Bank of New York is a bank holding company and one of the world's larger financial institutions. They provide comprehensive financial services to individuals, small and mid-sized businesses, multinational corporations, financial institutions, governments and public agencies worldwide. Their products and services are organized into five business lines: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Markets and Retail Banking. Bank Of Ny Mellon Cp has a market cap of $32.19 billion; its shares were traded at around $26.76 with a P/E ratio of 10.4 and P/S ratio of 2.7. The dividend yield of Bank Of Ny Mellon Cp stocks is 1.3%.
Dodge & Cox increased from 12.8 million shares to 22.1 million shares.
No. 2: General Electric Company (GE, Financial), Add: 0.44% of the portfolio - Total: 134,040,119 Shares
General Electric is one of the largest and most diversified industrial corporations in the world. GE is engaged in developing, manufacturing and marketing a wide variety of products for the generation, transmission, distribution, control and utilization of electricity. Some of GE's products include major appliances; lighting products; industrial automation products; medical diagnostic imaging equipment; motors; electrical distribution and control equipment; locomotives; power generation and delivery products. General Electric Company has a market cap of $170.99 billion; its shares were traded at around $16.09 with a P/E ratio of 13.3 and P/S ratio of 0.9. The dividend yield of General Electric Company stocks is 2.5%. General Electric Company had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated General Electric Company the business predictability rank of 3.5-star.
Dodge & Cox increased from 112.7 million shares to 134 million shares.
No. 3: Nokia Corp. (NOK, Financial), Buy: 0.44% of the portfolio - Total: 23,974,200 Shares
Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges. Nokia Corp. has a market cap of $52.17 billion; its shares were traded at around $13.93 with a P/E ratio of 15.2 and P/S ratio of 0.7. The dividend yield of Nokia Corp. stocks is 2.8%. Nokia Corp. had an annual average earning growth of 12.1% over the past 10 years. GuruFocus rated Nokia Corp. the business predictability rank of 4.5-star.
Dodge & Cox increased from 11,000 shares to 24 million shares.
No. 4: Symantec Corp. (SYMC, Financial), Add: 0.59% of the portfolio - Total: 29,261,450 Shares
Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. The company is a leading provider of anti-virus protection, Internet content and e-mail filtering, and mobile code detection technologies to enterprise customers. Symantec Corp. has a market cap of $14.64 billion; its shares were traded at around $17.97 with a P/E ratio of 13.1 and P/S ratio of 2.4. Symantec Corp. had an annual average earning growth of 20.6% over the past 10 years. GuruFocus rated Symantec Corp. the business predictability rank of 3-star.
No. 5: Vodafone Group plc (VOD, Financial), Add: 1.52% of the portfolio - Total: 53,456,935 Shares
Vodafone AirTouch Plc is the world's largest international mobile communications firm. Their primary operation is in digital and analog cellular telephone networks of Vodafone. Vodafone Group Plc has a market cap of $120.41 billion; its shares were traded at around $22.9 with and P/S ratio of 1.9. The dividend yield of Vodafone Group Plc stocks is 5.3%.
Dodge & Cox increased from 230K shares to 53.5 million shares.
Conclusion
Money managers in Dodge & Cox apparently also see value in wireless communication service provider (VOD) and equipment provider (NOK).
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and managers in Dodge & Cox for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
