In this article, we discuss the 5 stocks to consider in the portfolio of Kim Schrier. If you want to read our detailed analysis of these stocks, go directly to Kim Schrier Stock Portfolio: 10 Stocks To Consider.
5. Cisco Systems, Inc. (NASDAQ:CSCO)
Number of Hedge Fund Holders: 63
Cisco Systems, Inc. (NASDAQ:CSCO) markets internet-based networking and related products. There is positive hedge fund sentiment around the company. At the end of the third quarter of 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $3.9 billion in Cisco Systems, Inc. (NASDAQ:CSCO), up from 60 in the previous quarter worth $4.2 billion.
Mandatory disclosures by Kim Schrier show that the lawmaker sold Cisco Systems, Inc. (NASDAQ:CSCO) stock worth around $15,000-$50,000 in late October last year. The transactions were disclosed a day after they were made.
4. Abbott Laboratories (NYSE:ABT)
Number of Hedge Fund Holders: 63
Abbott Laboratories (NYSE:ABT) makes and sells healthcare products. Securities filings reveal that Kim Schrier sold Abbott Laboratories (NYSE:ABT) stock worth somewhere between $1,000 and $15,000 on October 28 last year.
Top hedge funds continue to hold large stakes in Abbott Laboratories (NYSE:ABT). Among the hedge funds being tracked by Insider Monkey, Ohio-based investment firm Diamond Hill Capital is a leading shareholder in Abbott Laboratories (NYSE:ABT) with 6.2 million shares worth more than $732 million.
In its Q2 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Abbott Laboratories (NYSE:ABT) was one of them. Here is what the fund said:
“Abbott Laboratories was the lone detractor in the quarter as the company preannounced that revenue and earnings this year would be below their previous guidance. We still expect the company to grow earnings more than 20% this year and continue double-digit earnings growth in the years to come. However, weakness in COVID-19 testing revenue is primarily responsible for the guidance reduction. Abbott is a leader in multiple types of COVID-19 diagnostic tests, and the largely successful vaccine rollout globally is leading to less COVID testing than the company expected. Two years ago, these tests obviously accounted for $0 in revenue but recently accounted for nearly $10 billion in annualized revenues as of the fourth quarter of 2020. We have expected COVID testing revenues to decline sequentially every quarter and eventually level out at less than $1 billion per year. We are not surprised by the current reality, but the decline has been more rapid than what management had expected.
Abbott is a diversified medical products company with likely strong growth to come from its core businesses outside of COVID testing— our investment thesis was not dependent on pandemic related revenue. While the reduction in guidance is atypical for Abbott’s conversative management team, we do not believe it changes our long-term growth assumptions or the investment case in Abbott.”
3. Bristol-Myers Squibb Company (NYSE:BMY)
Number of Hedge Fund Holders: 74
Bristol-Myers Squibb Company (NYSE:BMY) markets biopharma products. A growing number of hedge funds have turned bullish on the stock in recent months. At the end of the third quarter of 2021, 74 hedge funds in the database of Insider Monkey held stakes worth $4.7 billion in Bristol-Myers Squibb Company (NYSE:BMY), up from 73 in the preceding quarter worth $5.2 billion.
On October 28, per latest filings, Schrier sold Bristol-Myers Squibb Company (NYSE:BMY) stock worth around $1,000 to $15,000. The transaction in this regard was disclosed the day after it was made.
In its Q4 2020 investor letter, Wedgewood Partners, an asset management firm, highlighted a few stocks and Bristol-Myers Squibb Company (NYSE:BMY) was one of them. Here is what the fund said:
“Bristol-Myers Squibb recently reported accelerating sales as much of the medical services industry returned to work. The Company continues to expect double-digit earnings growth over the next few years, driven by existing drugs, in addition to a broad pipeline of new drugs and indications. While the market remains fixated on a couple of patent expirations that could occur over the next several years, we think this is well-known at this point, yet the market still undervalues a couple of key acquisitions the Company has made in the past few years, particularly Celgene, which was acquired for a song.”
2. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 120
Apple Inc. (NASDAQ:AAPL) makes and sells consumer electronics. The company was one of the only stock purchases of Schrier in recent months, according to the latest data. A PTR from November 2021 shows that the lawmaker bought Apple Inc. (NASDAQ:AAPL) stock worth between $250,000 and $500,000 on October 28.
Hedge funds have also been piling into Apple Inc. (NASDAQ:AAPL) stock. At the end of the third quarter of 2021, 120 hedge funds in the database of Insider Monkey held stakes worth $146 billion in Apple Inc. (NASDAQ:AAPL).
In its Q1 2021 investor letter, Distillate Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:
“Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”
1. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 195
Alphabet Inc. (NASDAQ:GOOGL) is a California-based technology company. It is one of the top tech stocks on Wall Street. At the end of the third quarter of 2021, 195 hedge funds in the database of Insider Monkey held stakes worth $28 billion in Alphabet Inc. (NASDAQ:GOOGL), up from 190 in the preceding quarter worth $26 billion.
Filings from last year show that Schrier sold Alphabet Inc. (NASDAQ:GOOGL) stock worth somewhere between $15,000 and $50,000 in October. The transaction was made on October 28 and disclosed the next day.
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