In this piece, we will take a look at the five stocks to sell now according to Javier Velazquez’s Albar Capital. For more stocks, take a look at 10 Stocks to Sell Now According to Javier Velazquez’s Albar Capital.
5. Apple Inc. (NASDAQ:AAPL)
Albar Capital’s Stake Value in Q1 2022: $5.2 million
Percentage of Albar Capital’s 13F Portfolio In Q1 2022: 2.18%
Number of Hedge Fund Holders: 128
Apple Inc. (NASDAQ:AAPL) is the world’s largest consumer technology firm, which is best known for its iconic smartphone, the iPhone. The company is headquartered in Cupertino, California, the United States.
Albar Capital owned 30,048 Apple Inc. (NASDAQ:AAPL) shares during the first quarter of this year for a $5.2 million stake that represented 2.18% of its portfolio. During Q2 2022, 128 of the 895 hedge funds polled by Insider Monkey had invested in the firm, while Mr. Velazquez’s hedge fund had exited its position.
Apple Inc. (NASDAQ:AAPL) recently launched its iPhone 14 smartphone lineup, which became the first iPhone to support satellite connectivity. It is also significantly growing its services segment, with Apple TV performing strongly as others, such as Netflix, falter. BofA kept a $185 share price target for the company in September 2022, as it shared that carrier promotions are stoking interest in the new iPhone.
Apple Inc. (NASDAQ:AAPL)’s largest investor is Warren Buffett’s Berkshire Hathaway which owns 894 million shares that are worth $122 billion.
4. Honeywell International Inc. (NASDAQ:HON)
Albar Capital’s Stake Value in Q1 2022: $5.7 million
Percentage of Albar Capital’s 13F Portfolio In Q1 2022: 2.37%
Number of Hedge Fund Holders: 42
Honeywell International Inc. (NASDAQ:HON) is an American industrial manufacturing company that is headquartered in Charlotte, North Carolina. The firm serves the needs of aerospace and other industries.
Honeywell International Inc. (NASDAQ:HON) aims to grow its revenue by as much as 7% this year, alongside generating $5.1 billion in free cash flows. It has a strong three year return on invested capital of 51%, well above its cost of capital of 8.3%. Berenberg reduced the company’s share price target to $195 from $230 in September 2022.
Mr. Velazquez’s hedge fund sold its $5.7 million stake in Honeywell International Inc. (NASDAQ:HON) during this year’s June quarter. Insider Monkey’s Q2 2022 survey of 895 hedge funds saw 42 as having invested in the firm.
Honeywell International Inc. (NASDAQ:HON)’s largest investor is D. E. Shaw’s D E Shaw which owns 120 million shares that are worth $220 million.
3. Dow Inc. (NYSE:DOW)
Albar Capital’s Stake Value in Q1 2022: $7.2 million
Percentage of Albar Capital’s 13F Portfolio In Q1 2022: 3.01%
Number of Hedge Fund Holders: 45
Dow Inc. (NYSE:DOW) is an American materials science company that provides a host of products such as polymers, rubbers, and oxides. It is headquartered in Midland, Michigan.
Albar Capital owned 113,576 Dow Inc. (NYSE:DOW) shares as part of its Q1 2022 holdings, which let it hold a $7.2 million stake in the company. In the succeeding quarter, the company would sell this stake, while 45 of the 895 hedge funds part of Insider Monkey’s research would still have held on to Dow Inc. (NYSE:DOW)’s shares.
Dow Inc. (NYSE:DOW)’s shares have bled on the stock market this year, with the price down a staggering 24% year to date. However, the company has a fortress balance sheet in the form of $2.4 billion in cash and available liquidity of $12.2 billion. Citi lowered the company’s share price target to $49 from $56 in September 2022, stating that production and logistics constraints will weigh on the income statement.
Dow Inc. (NYSE:DOW)’s largest investor in our database is Richard S. Pzena’s Pzena Investment Management which owns 6.2 million shares that are worth $323 million.
2. Albemarle Corporation (NYSE:ALB)
Albar Capital’s Stake Value in Q1 2022: $15 million
Percentage of Albar Capital’s 13F Portfolio In Q1 2022: 6.3%
Number of Hedge Fund Holders: 39
Albemarle Corporation (NYSE:ALB) is an engineered specialty chemicals company that is one of the oldest of its kind as it was set up in 1887. The firm is headquartered in Charlotte, North Carolina and it sells chemicals such as lithium hydroxide, elastomers, and greases.
Albemarle Corporation (NYSE:ALB) is benefiting from the current upward trend in lithium prices, and the firm expects to grow its production by 20% by the end of this year. Citi raised its share price target to $345 from $294 in September 2022, as it highlighted that the firm has restructured its contracts to variable pricing and that the demand for lithium continues to remain strong.
Mr. Velazquez’s hedge fund owned a $15 million stake in Albemarle Corporation (NYSE:ALB) as part of its investments for this year’s first quarter. However, the firm sold this stake and exited the position in Q2. During the same time period, Insider Monkey studied 895 hedge fund portfolios to find out that 39 had held a stake in the company.
Albemarle Corporation (NYSE:ALB)’s largest investor is Paul Marshall and Ian Wace’s Marshall Wace LLP which owns 739,388 shares that are worth $154 million.
1. Ingersoll Rand Inc. (NYSE:IR)
Albar Capital’s Stake Value in Q1 2022: $26 million
Percentage of Albar Capital’s 13F Portfolio In Q1 2022: 10.89%
Number of Hedge Fund Holders: 28
Ingersoll Rand Inc. (NYSE:IR) is an American industrial company that is headquartered in Davidson, North Carolina. The firm produces a variety of industrial systems such as pumps and compression systems.
Ingersoll Rand Inc. (NYSE:IR) grew its revenue by 15% during the first half of this year, as it benefited from inflation and mergers and acquisitions. During the same time period, its net income grew by a strong 69%, even as the firm struggled due to a stronger U.S. dollar affecting its overseas sales. Baird increased its share price target to $57 from $52 in September 2022, stating that it has strong orders lined up.
Albar Capital sold off its $26 million stake in Ingersoll Rand Inc. (NYSE:IR) during the second quarter of this year. Insider Monkey’s 895 hedge fund survey covering the same time period saw 28 investors in the company.
Ingersoll Rand Inc. (NYSE:IR)’s largest investor in our database is Henry Ellenbogen’s Durable Capital Partners which owns 4.5 million shares that are worth $193 million.
Disclosure: None. You can also take a look at 10 Best Sugar Stocks To Buy and 10 Long-Term Stocks to Buy According to Billionaire Mario Gabelli.
