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Tiziano Frateschi
Tiziano Frateschi
Articles (2569)  | Author's Website |

T Rowe Price Equity Income Fund Exits Allergan, JPMorgan

Fund's largest sales of the 1st quarter

The T Rowe Price Equity Income Fund (Trades, Portfolio) sold shares of the following stocks during the first quarter of 2020.

Allergan PLC

The firm exited its Allergan PLC. (AGN) holding. The portfolio was impacted by -0.93%.

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The pharmaceutical manufacturer has a market cap of $61.10 billion and an enterprise value of $78.43 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -8.7% and return on assets of -5.44% are underperforming 61% of companies in the drug manufacturers industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.26 is above the industry median of 0.96.

The largest guru shareholder of the company is Jim Simons (Trades, Portfolio)’ Renaissance Technologies with 1.53% of outstanding shares, followed by Daniel Loeb (Trades, Portfolio)’s Third Point with 1.09% and John Paulson (Trades, Portfolio) with 0.81%.

JPMorgan Chase

The investor trimmed its JPMorgan Chase & Co. (JPM) holding by 20.72%. The portfolio was impacted by -0.72%.

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The largest bank in the U.S. has a market cap of $276.6 billion and an enterprise value of $372.38 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 10.81% and return on assets of 1.07% are outperforming 75% of companies in the banks industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 1.05 is below the industry median of 1.14.

The largest guru shareholder of the company is Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway with 1.94% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.72% and Dodge & Cox with 0.46%.

Delta Air Lines

The fund closed its position of Delta Air Lines Inc. (DAL), impacting the portfolio by -0.41%.

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The airline company has a market cap of $15.59 billion and an enterprise value of $29.96 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 33.57% and return on assets of 7.63% are outperforming 84% of companies in the transportation industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.17 is below the industry median of 0.27.

The largest guru shareholder of the company is Buffett with 9.20% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 4.43% and Pioneer Investments (Trades, Portfolio) with 0.35%.

Cognizant Technology Solutions

The firm reduced its holding in Cognizant Technology Solutions Corp. (CTSH) by 71.11%. The trade had an impact of -0.39% on the portfolio.

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The IT services provider has a market cap of $28.50 billion and an enterprise value of $26.76 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 16.79% and return on assets of 11.58% are outperforming 79% of companies in the software industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 2.03 is below the industry median of 2.22

The largest guru shareholder of the company is the Dodge & Cox with 3.12% of outstanding shares, followed by Al Gore (Trades, Portfolio) with 2.72% and Richard Pzena (Trades, Portfolio) with 1.62%.

Verizon Communications

The fund trimmed its Verizon Communications Inc. (VZ) position by 21.42%, with an impact of -0.39% on the portfolio.

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The company has a market cap of $235.69 billion and an enterprise value of $367.68 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 33.69% and return on assets of 6.84% are outperforming 80% of companies in the telecommunication services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.02 underperforms 94% of competitors.

Pioneer Investments (Trades, Portfolio) is the largest guru shareholder of the company with 0.39% of outstanding shares, followed by T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.11% and Barrow, Hanley, Mewhinney & Strauss with 0.06%.

Corteva

The firm closed its holding in Corteva Inc. (CTVA). The trade had an impact of -0.39% on the portfolio.

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The company, which develops new seed and crop chemicals products, has a market cap of $19.11 billion and an enterprise value of $17.71 billion.

GuruFocus gives the company a profitability and growth rating of 2 out of 10. The return on equity of -2.36% and return on assets of -1.52% are underperforming 73% of companies in the agriculture industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 14.5 is above the industry median of 0.56.

The largest guru shareholder of the company is the Barrow, Hanley, Mewhinney & Strauss with 2.62% of outstanding shares, followed by Larry Robbins (Trades, Portfolio)’ Glenview Capital Management with 0.47% and PRIMECAP Management (Trades, Portfolio) with 0.31%.

Disclosure: I do not own any stocks mentioned.

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About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

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