The T Rowe Price Equity Income Fund (Trades, Portfolio) sold shares of the following companies during the third quarter.
Microsoft
The fund trimmed its Microsoft Corp. MSFT stake by 24.88%. The portfolio was impacted by -0.54%.
The provider of computer software, hardware and services has a market cap of $1.07 billion and an enterprise value of $1.01 trillion.
GuruFocus gives the company a profitability and growth rating of 10 out of 10. The return on equity of 42.69% and return on assets of 15.27% are outperforming 89% of companies in the Application Software industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 1.79 is below the industry median of 2.51.
The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 0.46% of outstanding shares, followed by Dodge & Cox with 0.41% and Ken Fisher (Trades, Portfolio) with 0.27%.
Merck
The fund exited its Merck & Co. Inc. MRK holding. The portfolio was impacted by -0.47%.
The pharmaceutical company has a market cap of $211.44 billion and an enterprise value of $231.02 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 31.88% and return on assets of 11.17% are outperforming 83% of companies in the Drug Manufacturers industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.27 is below the industry median of 1.17.
The largest guru shareholder of the company is the Vanguard Health Care Fund (Trades, Portfolio) with 0.52% of outstanding shares, followed by Kahn Brothers (Trades, Portfolio) with 0.41% and Pioneer Investments (Trades, Portfolio) with 0.35%.
AT&T
The AT&T Inc. T position was reduced by 58.92%, impacting the portfolio by -0.32%.
The American wireless carrier has a market cap of $269.04 billion and enterprise value of $461.57 billion
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 9.45% and return on assets of 3.22% are outperforming 59% of companies in the Communication Services industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.04 is below the industry median of 0.31.
The largest guru shareholder of the company is Pioneer Investments with 0.33% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.08%, Richard Pzena (Trades, Portfolio) with 0.02% and Mario Gabelli (Trades, Portfolio) with 0.02%.
Chevron Corp.
The fund reduced the Chevron Corp. CVX position by 33.78%. The trade had an impact of -0.32% on the portfolio.
The integrated energy company has a market cap of $232.22 billion and an enterprise value of $246.35 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 9.54% and return on assets of 5.75% are outperforming 52% of companies in the Oil and Gas – Integrated industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.28 is below the industry median of 0.34.
Fisher is the company’s largest guru shareholder with 0.26% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.23%, Pioneer Investments with 0.11% and Diamond Hill Capital (Trades, Portfolio) with 0.06%.
Walmart
T Rowe Price reduced its Walmart Inc. WMT stake by 25.72%. The portfolio was impacted by -0.28%.
The retail company has a market cap of $338.75 billion and an enterprise value of $410.98 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 18.14% and return on assets of 5.73% are outperforming 73% of companies in the Retail – Defensive industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.12 is below the industry median of 0.44.
The largest guru shareholder of the company is Bill Gates (Trades, Portfolio)’ foundation trust with 0.41% of outstanding shares, followed by Fisher with 0.37%, Pioneer Investments with 0.17% and Jim Simons (Trades, Portfolio)’ Renaissance Technologies with 0.16%.
GlaxoSmithKline
The firm curbed its GlaxoSmithKline PLC LSE:GSK stake by 40.35%. The portfolio was impacted by -0.27%.
Johnson Controls
The Johnson Controls International PLC JCI stake was reduced by 40.35%. The portfolio was impacted by -0.27%.
The multi-industrial company has a market cap of $33.66 billion and an enterprise value of $38.34 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 28.47% and return on assets of 12.27% are outperforming 93% of companies in the Engineering and Construction industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.5 is below the industry median of 0.72.
Dodge & Cox is the company’s largest guru shareholder with 12.55% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 4.56% and Hotchkis & Wiley with 0.80%.
Hess Corp.
The fund reduced its Hess Corp. HES holding by 45.29%. The portfolio was impacted by -0.25%.
The oil and gas producer has a market cap of $20.36 billion and an enterprise value of $26.88 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -0.49% and the return on assets of -0.09% are outperforming 57% of companies in the Oil and Gas - E&P industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.3 is below the industry median of 0.86.
The largest guru shareholder of the company is Paul Singer (Trades, Portfolio) with 5.58% of outstanding shares, followed by Dodge & Cox with 3.17%.
Disclosure: I do not own any stocks mentioned.
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