NORDEA INVESTMENT MANAGEMENT AB recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Nordea Investment Management is a private investment manager acts as a subsidiary of the Nordea Bank company. The company can trace its history back almost 200 years when some of the banks within the Nordea Bank organization were founded. The parent company can trace its origins to over 300 banks, although the company itself was formed in 2001 when a number of mergers had decreased the number of banks to four major banks, the Nordbanken from Sweden, Merita Bank from Finland, Unibank from Denmark, and Christiania Bank og Kreditkasse from Norway, which came together to form the bank group Nordea Bank. The current company Nordea Investment Management is a part of the Wealth Management division within its large parent company that has access to over 11 million customers. Some of the clients that the company provides services to include pension funds, unions, corporations, insurance companies, and foundations. Nordea Investment Management provides a variety of services to its diverse base of clients, including management services for client-focused equity, balanced, and fixed income portfolios, mutual funds, and hedge funds. The company provides these offices on a global scale, offering its services to clients in Europe, the Americas, and Asia with physical office locations in Stockholm, its headquarters, Helsinki, Oslo, and Copenhagen. Nordea Investment Management currently holds over $190 billion in total assets under management and is the largest Nordic retail fund provider that provides for over 600 Nordic and international institutional customers and over 400 international fund distributors. The company utilizes a combination of quantitative analysis with a fundamental approach, using both top down and bottom up stock picking approaches in order to create and manage its portfolios. The company mainly invests in the technology, financial, and health care sectors, together making up over half of its total investments, but also invests in services, utilities, consumer, and transportation sectors, in order of decreasing asset allocation.
As of the latest 13F report, the guru’s equity portfolio contained 966 stocks valued at a total of $67.37Bil. The top holdings were MSFT(4.45%), AAPL(3.69%), and GOOGL(2.73%).
According to GuruFocus data, these were NORDEA INVESTMENT MANAGEMENT AB’s top five trades of the quarter.
Baxter International Inc
During the quarter, NORDEA INVESTMENT MANAGEMENT AB bought 3,817,946 shares of NYSE:BAX for a total holding of 5,191,856. The trade had a 0.37% impact on the equity portfolio. During the quarter, the stock traded for an average price of $72.65.
On 08/10/2022, Baxter International Inc traded for a price of $59.955 per share and a market cap of $30.11Bil. The stock has returned -17.52% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Baxter International Inc has a price-earnings ratio of 29.90, a price-book ratio of 3.39, a EV-to-Ebitda ratio of 17.35 and a price-sales ratio of 2.14.
The price-to-GF Value ratio is 0.58, earning the stock a GF Value rank of 4.
CVS Health Corp
During the quarter, NORDEA INVESTMENT MANAGEMENT AB bought 2,697,382 shares of NYSE:CVS for a total holding of 9,680,490. The trade had a 0.37% impact on the equity portfolio. During the quarter, the stock traded for an average price of $97.65.
On 08/10/2022, CVS Health Corp traded for a price of $104.215 per share and a market cap of $136.36Bil. The stock has returned 27.37% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, CVS Health Corp has a price-earnings ratio of 16.89, a price-book ratio of 1.80, a price-earnings-to-growth (PEG) ratio of 3.25, a EV-to-Ebitda ratio of 11.20 and a price-sales ratio of 0.45.
The price-to-GF Value ratio is 1.20, earning the stock a GF Value rank of 3.
Zimmer Biomet Holdings Inc
NORDEA INVESTMENT MANAGEMENT AB reduced their investment in NYSE:ZBH by 1,862,797 shares. The trade had a 0.3% impact on the equity portfolio. During the quarter, the stock traded for an average price of $118.79.
On 08/10/2022, Zimmer Biomet Holdings Inc traded for a price of $114.755 per share and a market cap of $24.00Bil. The stock has returned -18.43% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Zimmer Biomet Holdings Inc has a price-earnings ratio of 104.94, a price-book ratio of 1.99, a EV-to-Ebitda ratio of 19.01 and a price-sales ratio of 3.25.
The price-to-GF Value ratio is 0.89, earning the stock a GF Value rank of 7.
Microsoft Corp
During the quarter, NORDEA INVESTMENT MANAGEMENT AB bought 777,502 shares of NAS:MSFT for a total holding of 11,768,397. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $271.99.
On 08/10/2022, Microsoft Corp traded for a price of $288.99 per share and a market cap of $2,149.55Bil. The stock has returned 1.47% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 29.89, a price-book ratio of 12.90, a price-earnings-to-growth (PEG) ratio of 1.45, a EV-to-Ebitda ratio of 20.99 and a price-sales ratio of 10.94.
The price-to-GF Value ratio is 0.95, earning the stock a GF Value rank of 7.
Alphabet Inc
During the quarter, NORDEA INVESTMENT MANAGEMENT AB bought 80,568 shares of NAS:GOOGL for a total holding of 17,083,460. The trade had a 0.26% impact on the equity portfolio. During the quarter, the stock traded for an average price of $118.07.
On 08/10/2022, Alphabet Inc traded for a price of $119.6 per share and a market cap of $1,564.64Bil. The stock has returned -12.63% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Alphabet Inc has a price-earnings ratio of 22.25, a price-book ratio of 6.11, a price-earnings-to-growth (PEG) ratio of 0.83, a EV-to-Ebitda ratio of 14.67 and a price-sales ratio of 5.84.
The price-to-GF Value ratio is 0.88, earning the stock a GF Value rank of 7.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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