Top Sells of Viking Global Investors LP

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 |  Includes: AGN, AKAM, AMZN, AON, APOL, BIDU, C, CCI, GOOG, GR, IVZ, MDRX, PNC, VRX, YUM
by: The Analyst Hub

Viking Global Investors LP is an independent hedge fund management firm founded by Andreas O. Halvorsen and David C. Ott. The firm manages over $12 bn in equities in the Viking Global series of hedge funds and the Viking Long Fund LP.

I discussed the Top Buys of Viking Global in my previous article here. In addition to buys, it is also interesting to have a look at top companies where Viking is booking profit and selling its holdings. The following is a list of Viking’s top 15 sells in the last quarter, as released in its most recent 13F filing with the SEC.

Stock

Symbol

Shares Held - 12/31/2010

Shares Held - 03/31/2011

Citigroup Inc

C

150,984,614

0

Baidu Inc

BIDU

4,703,816

2,198,116

INVESCO Ltd

IVZ

35,571,574

24,627,242

Yum! Brands Inc

YUM

11,047,700

5,748,100

PNC Financial Services Group Inc

PNC

4,012,400

0

Goodrich Corp

GR

3,430,419

593,514

Amazon.com Inc

AMZN

1,711,380

416,100

Aon Corporation

AON

5,081,100

1,262,050

Crown Castle International Corp

CCI

4,415,100

0

Google Inc

GOOG

302,746

0

Akamai Technologies Inc

AKAM

3,757,500

0

Apollo Group Inc

APOL

3,381,900

0

Watson Pharmaceuticals Inc

WPI

2,505,744

0

Valeant Pharmaceuticals International

VRX

9,227,263

6,634,189

AllScripts Healthcare Solutions Inc

MDRX

6,126,000

0

Click to enlarge


Here are some of the specifics about these companies, including a brief description of their business, growth expectations (top line and bottom-line) and valuation:

Citigroup Inc. (NYSE:C)

Viking sold all (150,984,614) shares of Citigroup Inc last quarter. The share price of the company has decreased from $47.3 on December 31, 2010, to $ 44.2 on March 31, 2011. (Note: Share prices are adjusted for recent 10:1 reverse stock split).

Citigroup Inc is a global diversified financial services holding company. Citigroup businesses provide consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2010, the company had approximately 200 million customer accounts and did business in more than 160 countries and jurisdictions. Citigroup’s EPS forecast for the current year is $4.2 and next year is $5.37. According to consensus estimates, its top line is expected to decline 7.20% in the current year and grow 5.80% next year. It is trading at a forward P/E of 7.63. Out of 24 analysts covering the company, 15 are positive and have buy ratings, six have hold ratings and three have sell ratings.


Baidu Inc.
(NASDAQ:BIDU)

Viking sold 2,505,700 shares Baidu Inc last quarter and now holds a total of 2,198,116 shares. This position is 2.61% of its portfolio. The share price of the company has increased from $96.53 on December 31, 2010, to $137.81 on March 31, 2011.

Baidu Inc is a Chinese-language internet search provider. The company conducts its operations in China principally through Baidu Online Network Technology Co., Ltd., its wholly owned subsidiary in Beijing, China. It also conducts its operations in China through Baidu Netcom Science Technology Co., Ltd., which holds the licenses and approvals necessary to operate the company’s websites and provide online advertising services. Baidu’s EPS forecast for the current year is $2.64 and next year is $3.97. According to consensus estimates, its top line is expected to grow 66.90% in the current year and 51.30% next year. It is trading at a forward P/E of 33.74. Out of 26 analysts covering the company, 21 are positive and have buy ratings, two have hold ratings and three have sell ratings.

INVESCO Ltd. (NYSE:IVZ)

Viking sold 10,944,332 shares of INVESCO Ltd last quarter and now holds a total of 24,627,242 shares. This position is 5.43 % of its portfolio. The share price of the company has increased from $24.06 on December 31, 2010, to $ 25.56 on March 31, 2011.

INVESCO Ltd is an independent global investment management company. INVESCO provides a range of investment strategies and vehicles to its retail, institutional and high-net-worth clients globally. It has operations in the institutional and retail segments of the investment management industry in North America, Europe and Asia-Pacific, serving clients in 150 countries. INVESCO’s EPS forecast for the current year is $1.81 and next year is $2.12. According to consensus estimates, its top line is expected to grow 23.30% in the current year and 0.80% next year. It is trading at a forward P/E of 11.48. Out of 18 analysts covering the company, 13 are positive and have buy ratings and five have hold ratings.

Yum! Brands Inc. (NYSE:YUM)

Viking sold 5,299,600 shares of Yum! Brands Inc last quarter and now holds a total of 5,748,100 shares. This position is 2.55% of its portfolio. The share price of the company has increased from $49.05 on December 31, 2010, to $51.38 on March 31, 2011.

YUM! Brands, Inc is a quick service restaurant company, with more than 37,000 units in more than 110 countries and territories. YUM, through its five concepts of KFC, Pizza Hut, Taco Bell, Long John Silver’s and A&W All-American Food Restaurants, develops and operates franchises and licenses a worldwide system of restaurants that prepare, package and sell a menu of competitively priced food items. Yum’s EPS forecast for the current year is $2.84 and next year is $3.20. According to consensus estimates, its top line is expected to grow 5.70% in the current year and 5.50% next year. It is trading at a forward P/E of 17.33. Out of 21 analysts covering the company, ten are positive and have buy ratings and 11 have hold ratings.

PNC Financial Services Group Inc. (NYSE:PNC)

Viking sold all (4,012,400) shares of PNC Financial Services Group Inc last quarter. The share price of the company has increased from $60.72 on December 31, 2010, to $62.99 on March 31, 2011.

The PNC Financial Services Group, Inc is a diversified financial services company in the United States. PNC is engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing many of its products and services nationally and others in its geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Maryland, Illinois, Indiana, Kentucky, Florida, Virginia, Missouri, Delaware, Washington, D.C. and Wisconsin. PNC’s EPS forecast for the current year is $5.97 and next year is $6.51. According to consensus estimates, its top line is expected to decline 4.80% in the current year and grow 1.30% next year. It is trading at a forward P/E of 9.61. Out of 32 analysts covering the company, 26 are positive and have buy ratings and six have hold ratings.

Goodrich Corp. (NYSE:GR)

Viking sold 2,836,905 shares of Goodrich Corp last quarter and now holds a total of 593,514 shares. This position is 0.44% of its portfolio. The share price of the company has decreased from $88.07 on December 31, 2010, to $85.53 on March 31, 2011.

Goodrich Corporation is a supplier of aerospace components, systems and services to the commercial and general aviation airplane markets. It is also a supplier of systems and products to the global defense and space markets. Its business is conducted globally with manufacturing, service and sales undertaken in various locations throughout the world. Its products and services are principally sold to customers in North America, Europe and Asia. Goodrich’s EPS forecast for the current year is $5.62 and next year is $6.41. According to consensus estimates, its top line is expected to grow 13.10% in the current year and 9.50% next year. It is trading at a forward P/E of 13.51. Out of 24 analysts covering the company, 19 are positive and have buy ratings, four have hold ratings and one has a sell rating.

Amazon.com Inc. (NASDAQ:AMZN)

Viking sold 1,295,280 shares of Amazon.com Inc last quarter and now holds a total of 416,100 shares. This position is 0.65% of its portfolio. The share price of the company has increased from $180 on December 31, 2010, to $ 180.13 on March 31, 2011.

Amazon.com, Inc is a customer-centric company for three primary customer sets: consumers, sellers and enterprises. In addition, the company generates revenue through other marketing and promotional services, such as online advertising, and co-branded credit card agreements. Amazon’s EPS forecast for the current year is $2.47 and next year is $3.79. According to consensus estimates, its top line is expected to grow 36.90% in the current year and 28.90% next year. It is trading at a forward P/E of 51.22. Out of 34 analysts covering the company, 20 are positive and have buy ratings, 12 have hold ratings and two have sell ratings.

Aon Corporation (NYSE:AON)

Viking sold 3,819,050 shares of Aon Corporation last quarter and now holds a total of 1,262,050 shares. This position is 0.58% of its portfolio. The share price of the company has increased from $46.01 on December 31, 2010, to $ 52.96 on March 31, 2011.

Aon Corporation provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services. Aon delivers its technical expertise locally through colleagues. It serves clients through the businesses, which include risk solutions and human resource Solutions. Aon’s EPS forecast for the current year is $3.42 and next year is $3.89. According to consensus estimates, its top line is expected to grow 31.00% in the current year and 3.90% next year. It is trading at a forward P/E of 13.21. Out of 18 analysts covering the company, 11 are positive and have buy ratings and seven have hold ratings.

Crown Castle International Corp. (NYSE:CCI)

Viking sold all (4,415,100) shares of Crown Castle International Corp last quarter. The share price of the company has decreased from $43.83 on December 31, 2010, to $42.55 on March 31, 2011.

Crown Castle International Corp owns, operates and leases towers and other wireless infrastructure, including distributed antenna system networks in the United States and rooftop installations. The company’s main business is renting space on its towers through long-term contracts in various forms, including license, sublease and lease agreements. Crown’s EPS forecast for the current year is $0.46 and next year is $0.74. According to consensus estimates, its top line is expected to grow 7.30% in the current year and 6.30% next year. It is trading at a forward P/E of 56.46. Out of 22 analysts covering the company, 15 are positive and have buy ratings and seven have hold ratings.

Google Inc. (NASDAQ:GOOG)

Viking sold all (302,746) shares of Google Inc last quarter. The share price of the company has decreased from $593.97 on December 31, 2010, to $586.76 on March 31, 2011.

Google Inc. is focused on improving the ways people connect with information. The company generates revenue primarily by delivering online advertising. The company focuses on areas, such as search, advertising, operating systems and platforms, and enterprise. Google’s EPS forecast for the current year is $29.6 and next year is $33.92. According to consensus estimates, its top line is expected to grow 25.80% in the current year and 20.50% next year. It is trading at a forward P/E of 15.28. Out of 40 analysts covering the company, 35 are positive and have buy ratings and five have hold ratings.

Akamai Technologies Inc. (NASDAQ:AKAM)

Viking sold all (3,757,500) shares of Akamai Technologies Inc last quarter. The share price of the company has decreased from $47.05 on December 31, 2010, to $38.00 on March 31, 2011.

Akamai Technologies, Inc provides services for accelerating and improving the delivery of content and applications over the internet; ranging from live and on-demand streaming video capabilities to conventional content on websites, to tools that help people transact business and reach out to new and existing customers. Akamai’s EPS forecast for the current year is $1.57 and next year is $1.79. According to consensus estimates, its top line is expected to grow 14.50% in the current year and 14.70% next year. It is trading at a forward P/E of 18.80. Out of 25 analysts covering the company, 11 are positive and have buy ratings and 14 have hold ratings.

Apollo Group Inc. (NASDAQ:APOL)

Viking sold all (3,381,900) shares Apollo Group Inc last quarter. The share price of the company has increased from $39.49 on December 31, 2010, to $41.71 on March 31, 2011.

Apollo Group, Inc is a private education provider. The company offers educational programs and services both online and on-campus at the undergraduate, masters and doctoral levels through its wholly owned subsidiaries. Apollo’s EPS forecast for the current year is $4.7 and next year is $3.17. According to consensus estimates, its top line is expected to decline 5.20% in the current year and 11.40% next year. It is trading at a forward P/E of 12.69. Out of 23 analysts covering the company, 11 are positive and have buy ratings and 12 have hold ratings.

Watson Pharmaceuticals Inc. (WPI)

Viking sold all (2,505,744) shares of Watson Pharmaceuticals Inc last quarter. The share price of the company has increased from $51.65 on December 31, 2010, to $56.01 on March 31, 2011.

Watson Pharmaceuticals, Inc is an integrated global pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic and brand pharmaceutical products. It operates in three segments: Global Generics, Global Brands and Distribution. Watson’s EPS forecast for the current year is $4.19 and next year is $5.21. According to consensus estimates, its top line is expected to grow 17.50% in the current year and 18.00% next year. It is trading at a forward P/E of 12.28. Out of 21 analysts covering the company, 11 are positive and have buy ratings and ten have hold ratings.

Valeant Pharmaceuticals International (NYSE:VRX)

Viking sold 2,593,074 shares of Valeant Pharmaceuticals International last quarter and now holds a total of 6,634,189 shares. This position is 2.85% of its portfolio. The share price of the company has increased from $28.29 on December 31, 2010, to $49.81 on March 31, 2011.

Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. The company’s specialty pharmaceutical and over-the-counter products are marketed under brand names and are sold in the United States, Canada, Australia and New Zealand. According to consensus estimates, its top line is expected to grow 30.90% in the current year and 15.60% next year. Out of 19 analysts covering the company, 16 are positive and have buy ratings, two have hold ratings and one has a sell rating.

AllScripts Healthcare Solutions Inc. (NASDAQ:MDRX)

Viking sold all (6,126,000) shares of AllScripts Healthcare Solutions Inc last quarter. The share price of the company has increased from $19.27 on December 31, 2010, to $20.99 on March 31, 2011.

Allscripts Healthcare Solutions, Inc., formerly Allscripts-Misys Healthcare Solutions, Inc is a provider of clinical software, services, information and connectivity solutions that are used by physicians and other healthcare providers to improve the quality of healthcare. AllScripts’ EPS forecast for the current year is $0.9 and next year is $1.07. According to consensus estimates, its top line is expected to grow 10.60% next year. It is trading at a forward P/E of 18.79. Out of 22 analysts covering the company, 13 are positive and have buy ratings, eight have hold ratings and one has a sell rating.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.