Ken Fisher Strategy: 5 New Stock Picks

3. Volkswagen AG (OTC:VWAGY)

Number of Hedge Fund Holders: N/A

Fisher Asset Management’s Stake Value: $353,525,000

Volkswagen AG (OTC:VWAGY) is a German company that manufactures and commercializes automobiles in Europe, North America, South America, and the Asia-Pacific. The company operates in four segments – Passenger Cars and Light Commercial Vehicles, Commercial Vehicles, Power Engineering, and Financial Services. Ken Fisher opened a new position in Volkswagen AG (OTC:VWAGY) during the third quarter of 2022, buying 28.5 million shares worth $353.5 million and representing 0.26% of the total portfolio. 

On October 28, Volkswagen AG (OTC:VWAGY) reported a Q3 GAAP EPS of €3.90 and a revenue of €70.71 billion, up 24.2% on a year-over-year basis. The total vehicle sales during the quarter came in at 2,236,000 units. For full-year 2022, Volkswagen AG (OTC:VWAGY) expects the sales revenue to be 8%-13% higher than the prior-year figure.

BofA analyst Horst Schneider on November 8 upgraded Volkswagen AG (OTC:VWAGY) to Buy from Neutral. The analyst said the market is applying an “excessive” conglomerate discount to the shares.

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