GLENMEDE TRUST CO NA recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
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.
The Glenmede Trust Company in an asset management company that acts as a business subsidiary of the Glenmede Corporation. The company can trace its history back to 1956, when the four children of Joseph N. Pew created Glenmede as the corporate trustee for the trust endowed to honor their parents. The original trust, the Pew Memorial Trust, was funded with Sun Oil Co. stocks, which was established by Joseph Pew. In the 1970s, the company would begin diversifying its concentrated stock holdings, striving to create “sophisticated investment strategies to preserve principal, achieve capital appreciation and generate income to meet distribution requirements.” In 1978, the company would officially provide formal service offerings for families, foundations, and endowments. By the 1990s, the company would have expanded outside of its original location in Philadelphia and become a national company. The Glenmede Trust Company currently has over 1,700 clients located throughout the United States with offices in Princeton, Morristown, Wilmington, Cleveland, New York City, and Washington D.C. The company has moved its proprietary equity and fixed income strategies management to its subsidiary, Glenmede Investment Management, which has over $10 billion in total assets under management spread across 3,000 accounts with the majority of its clients being high net worth individuals, the client group alone making up over half of its entire client base. Glenmede Trust Company itself has over $49 billion in total assets under management, maintaining the feel of a small independent company by having a 6 to 1 client to employee ratio and, thusly, reflecting its ideals in providing both “the deep resources of a large, publicly owned firm and the client focus and responsiveness of an independently owned boutique.” The Glenmede Trust Company currently provides its various wealth advisory services, ranging from estate planning to consolidated manager reporting, to institutional investors, public funds, retirement plans, foundations, and endowments.
As of the latest 13F report, the guru’s equity portfolio contained 1278 stocks valued at a total of $17.05Bil. The top holdings were AAPL(3.32%), IJR(2.86%), and MSFT(2.78%).
According to GuruFocus data, these were GLENMEDE TRUST CO NA’s top five trades of the quarter.
Vanguard S&P 500 ETF
During the quarter, GLENMEDE TRUST CO NA bought 243,771 shares of ARCA:VOO for a total holding of 1,221,149. The trade had a 0.5% impact on the equity portfolio. During the quarter, the stock traded for an average price of $351.8.
On 02/18/2023, Vanguard S&P 500 ETF traded for a price of $374.22 per share and a market cap of $281.04Bil. The stock has returned -5.32% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Vanguard S&P 500 ETF has a price-earnings ratio of 20.20 and a price-book ratio of 3.76.
Alphabet Inc
GLENMEDE TRUST CO NA reduced their investment in NAS:GOOGL by 596,869 shares. The trade had a 0.36% impact on the equity portfolio. During the quarter, the stock traded for an average price of $95.03.
On 02/18/2023, Alphabet Inc traded for a price of $94.34999999999999 per share and a market cap of $1,209.77Bil. The stock has returned -28.81% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Alphabet Inc has a price-earnings ratio of 20.73, a price-book ratio of 4.77, a price-earnings-to-growth (PEG) ratio of 0.82, a EV-to-Ebitda ratio of 13.02 and a price-sales ratio of 4.38.
The price-to-GF Value ratio is 0.65, earning the stock a GF Value rank of 8.
Dollar General Corp
GLENMEDE TRUST CO NA reduced their investment in NYSE:DG by 204,526 shares. The trade had a 0.31% impact on the equity portfolio. During the quarter, the stock traded for an average price of $247.29.
On 02/18/2023, Dollar General Corp traded for a price of $227.82 per share and a market cap of $50.93Bil. The stock has returned 16.69% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Dollar General Corp has a price-earnings ratio of 22.14, a price-book ratio of 8.36, a price-earnings-to-growth (PEG) ratio of 1.38, a EV-to-Ebitda ratio of 17.28 and a price-sales ratio of 1.44.
The price-to-GF Value ratio is 0.84, earning the stock a GF Value rank of 9.
HP Inc
GLENMEDE TRUST CO NA reduced their investment in NYSE:HPQ by 1,822,849 shares. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $27.68.
On 02/18/2023, HP Inc traded for a price of $30.16 per share and a market cap of $29.62Bil. The stock has returned -14.41% 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, HP Inc has a price-earnings ratio of 10.03, a price-earnings-to-growth (PEG) ratio of 0.41, a EV-to-Ebitda ratio of 6.96 and a price-sales ratio of 0.50.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 7.
SPDR Dow Jones Global Real Estate ETF
During the quarter, GLENMEDE TRUST CO NA bought 1,224,853 shares of ARCA:RWO for a total holding of 1,560,122. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $40.14.
On 02/18/2023, SPDR Dow Jones Global Real Estate ETF traded for a price of $43.89 per share and a market cap of $1.33Bil. The stock has returned -12.74% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, SPDR Dow Jones Global Real Estate ETF has a price-earnings ratio of 16.29 and a price-book ratio of 1.51.
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.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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