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Tiziano Frateschi
Tiziano Frateschi
Articles (2571)  | Author's Website |

The T Rowe Price Equity Income Fund Cuts JPMorgan

Firm's largest sales of the 2nd quarter

The T Rowe Price Equity Income Fund (Trades, Portfolio) manages a $14 billion portfolio composed of 102 stocks. It sold shares of the following stocks during the second quarter of 2020.

JPMorgan

The fund cut its position in JPMorgan Chase & Co. (JPM) by 46.59%. The trade had an impact of -1.18% on the portfolio.

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The financial institution has a market cap of $299 billion and an enterprise value of $313 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. While the return on equity of 8.9% is outperforming the sector, return on assets of 0.87% is underperforming 51% of companies in the banks industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 1.35 is above the industry median of 1.15.

Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway is the largest guru shareholder of the company with 1.89% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.64% and Dodge & Cox with 0.44%.

Verizon

The fund reduced its Verizon Communications Inc. (VZ) stake by 57.94%. The portfolio was impacted by -1.03%.

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The wireless and prepaid phone provider has a market cap of $235 billion and an enterprise value of $368 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 31.38% and return on assets of 6.39% are outperforming 78% of companies in the telecommunication services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.05 is below the industry median of 0.29.

The largest guru shareholder of the company is Pioneer Investments (Trades, Portfolio) with 0.38% of outstanding shares, followed by Jim Simons (Trades, Portfolio)’ Renaissance Technologies with 0.13%.

Johnson & Johnson

The fund's Johnson & Johnson (JNJ) position was trimmed by 35.87%. The portfolio was impacted by -0.99%.

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The healthcare giant has a market cap of $390 billion and an enterprise value of $400 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 25.42% and return on assets of 9.82% are outperforming 83% of companies in the drug manufacturers industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 0.65 is below the industry median of 0.87.

Some notable guru shareholders are Pioneer Investments (Trades, Portfolio) with 0.20% of outstanding shares and Simons’ firm with 0.12%.

Microsoft

The fund reduced its position in Microsoft Corp. (MSFT) by 34.91%, impacting the portfolio by –0.66%.

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The developer of hardware and software for enterprise and domestic businesses has a market cap of $1.52 trillion and an enterprise value of $1.46 trillion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 43.82% and return on assets of 16.56% are underperforming 93% of companies in the software industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 1.86 is below the industry median of 2.24.

Some notable gurus shareholders are PRIMECAP Management (Trades, Portfolio) with 0.34% of outstanding shares, Ken Fisher (Trades, Portfolio) with 0.28% and Dodge & Cox with 0.26%.

US Bancorp

The investment fund cut its holding in U.S. Bancorp (USB). The trade had an impact of -0.64% on the portfolio.

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The provider of financial services has a market cap of $55.61 billion and an enterprise value of $94.06 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 9.42% and return on assets of 1.03% are outperforming 59% of companies in the banks industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.83 is below the industry median of 1.15.

Some notable gurus shareholders are Buffett’s firm with 8.79% of outstanding shares, Chris Davis (Trades, Portfolio) with 0.87% and First Eagle Investment (Trades, Portfolio) with 0.78%.

Qualcomm

The investment fund cut its Qualcomm Inc. (QCOM) position by 19.36%. The trade had an impact of -0.55% on the portfolio.

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The developer and licenser of wireless technology has a market cap of $99.99 billion and an enterprise value of $106 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 92.86% and return on assets of 12.18% are outperforming 87% of companies in the semiconductors industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.62 is below the industry median of 1.47.

Some notable gurus shareholders are PRIMECAP Management (Trades, Portfolio) with 2.08% of outstanding shares.

Dow

The investment fund exited its holding in Dow Inc. (DOW). The trade had an impact of -0.52% on the portfolio.

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The chemical manufacturer has a market cap of $31.58 billion and an enterprise value of $47.96 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity of -13.3% and return on assets of -3.18% are underperforming 89% of companies in the chemicals industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.19 is below the industry median of 0.64.

Other notable shareholders include Richard Pzena (Trades, Portfolio) with 0.62% of outstanding shares and PRIMECAP Management (Trades, Portfolio) with 0.38%.

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.

Visit Tiziano Frateschi's Website


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