Goldman Sachs' Top 15 Sells

|
 |  Includes: AAPL, ADM, AVGO, BAC, BAX, BIIB, CBS, CSCO, CVI, EQR, MA, MSI, OXY, RRC, WFT
by: The Analyst Hub

Goldman Sachs group manages over $100 bn in equities primarily through its asset management subsidiary Goldman Sachs Asset Management. The firm manages the Goldman Sachs series of funds apart from other series of mutual funds and caters to individuals and institutions.

I discussed the Top 15 Buys of Goldman Sachs in my previous article here. In addition to buys, it is also interesting to have a look at top companies where Goldman is booking profit and selling its holdings. The following is a list of its top 15 sells (market value wise) 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

Baxter International Inc

BAX

19,142,882

7,802,073

Motorola Solutions Inc

MSI

11,898,037

735,472

Apple Inc

AAPL

7,020,674

5,759,872

Cisco Systems Inc

CSCO

48,646,629

25,994,858

CVR Energy Inc

CVI

15,493,898

388,797

Occidental Petroleum Corporation

OXY

10,554,091

7,559,448

Range Resources Corporation

RRC

5,328,629

168,296

Broadcom Corp

BRCM

9,905,084

2,497,185

Biogen Idec Inc

BIIB

9,837,188

5,961,581

Weatherford International Ltd

WFT

15,084,145

3,472,346

CBS Corp Cl B

CBS

22,940,448

13,405,908

MasterCard Incorporated

MA

3,360,034

2,449,299

Archer Daniels Midland Company

ADM

9,539,560

3,241,763

Bank Of America Corporation

BAC

75,109,314

59,254,933

Equity Residential

EQR

5,436,224

1,708,822

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:

Baxter International Inc.

Goldman Sachs sold 11,340,809 shares of Baxter International Inc last quarter and now holds a total of 7,802,073 shares. This position is 0.28% of its portfolio. The share price of the company has increased from $50.62 on December 31, 2010, to $53.77 on March 31, 2011.

Baxter International Inc. is a global, diversified healthcare company. The Company, through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. Baxter’s EPS forecast for the current year is $4.26 and next year is $4.67. According to consensus estimates, its top line is expected to grow 4.60% in the current year and 4.80% next year. It is trading at a forward P/E of 12.57. Out of 21 analysts covering the company, 14 are positive and have buy ratings, six have hold ratings and one has a sell rating.

Motorola Solutions Inc.

Goldman Sachs sold 11,162,565 shares of Motorola Solutions Inc. last quarter and now holds a total of 735,472 shares. This position is 0.02% of its portfolio. On January 4, 2011, the separation of Motorola Mobility Holdings, Inc. (NYSE:MMI) from Motorola Solutions was completed. Goldman likely booked profit after the spin off.

Motorola Solutions Inc. provides technologies, products, systems and services. Motorola Solutions’ portfolio include wireless handsets, wireless accessories, digital entertainment devices, set-top boxes and video distribution systems, analog and digital two-way radios, wireless and wireline broadband network products, and end-to-end enterprise mobility products. Motorola’s EPS forecast for the current year is $2.34 and for the next year is $2.6. According to consensus estimates, its top line is expected to decline 57.30% in the current year and grow 5.10% next year. It is trading at a forward P/E of 18.03. Out of 23 analysts covering the company, four are positive and have buy ratings, 18 have hold ratings and one has a sell rating.


Apple Inc.

Goldman Sachs sold 1,260,802 shares of Apple Inc last quarter and now holds a total of 5,759,872 shares. This position is 1.36% of its portfolio. The share price of the company has increased from $322.56 on December 31, 2010, to $348.51 on March 31, 2011.

Apple Inc designs, manufactures and markets a range of personal computers, mobile communication and media devices, and portable digital music players, and sells a range of related software, services, peripherals, networking solutions, and third-party digital content and applications. Apple’s EPS forecast for the current year is $24.72 and next year is $28.6. According to consensus estimates, its top line is expected to grow 58.40% in the current year and 20.60% next year. It is trading at a forward P/E of 12.08. Out of 54 analysts covering the company, 50 are positive and have buy ratings, three have hold ratings and one has a sell rating.

Cisco Systems Inc.

Goldman Sachs sold 22,651,771 shares Cisco Systems Inc. last quarter and now holds a total of 25,994,858 shares. This position is 0.3% of its portfolio. The share price of the company has decreased from $20.23 on December 31, 2010, to $17.15 on March 31, 2011.

Cisco Systems Inc designs, manufactures, and sells Internet protocols based networking and other products related to the communications and information technology industry and provides services associated with these products and their use. The Company provides a line of products for transporting data, voice, and video within buildings. Cisco’s EPS forecast for the current year is $1.6 and for the next year is $1.73. According to consensus estimates, its top line is expected to decline 7.50% in the current year and grow 6.00% in the next year. It is trading at a forward P/E of 9.47. Out of 48 analysts covering the company, 21 are positive and have buy ratings, 24 have hold ratings and three have sell ratings.

CVR Energy Inc.

Goldman Sachs sold 15,105,101 shares of CVR Energy Inc last quarter and now holds a total of 388,797 shares in the company. This position is 0.01% of its portfolio. The share price of the company has increased from $15.18 on December 31, 2010, to $23.16 on March 31, 2011.

CVR Energy, Inc. is an independent petroleum refiner and marketer of transportation fuels. In addition, the Company owns all of the interests other in CVR Partners, LP, a limited partnership which produces nitrogen fertilizers in the form of ammonia, and a solution of urea and ammonium nitrate in water used as a fertilizer. CVR’s EPS forecast for the current year is $2.54 and for the next year is $2.34. According to consensus estimates, its top line is expected to grow 25.90% in the current year and 7.90% next year. It is trading at a forward P/E of 8.93. All four analysts covering the company are positive and have buy ratings.

Occidental Petroleum Corporation

Goldman Sachs sold 2,994,643 shares of Occidental Petroleum Corporation last quarter and now holds a total of 7,559,448 shares in the company. This position is 0.53% of its portfolio. The share price of the company has increased from $98.1 on December 31, 2010, to $104.49 on March 31, 2011.

Occidental Petroleum Corporation conducts its operations through various subsidiaries and affiliates. Occidental operates in three segments: oil and gas segment, chemical segment, and midstream, marketing and other segment. The oil and gas segment explores for, develops, produces and markets crude oil, including natural gas liquids and condensate, as well as natural gas. Occidental’s EPS forecast for the current year is $8.6 and for the next year is $9.7. According to consensus estimates, its top line is expected to grow 18.10% in the current year and 11.80% in the next year. It is trading at a forward P/E of 10.69. Out of 23 analysts covering the stock, 15 are positive and have buy ratings and eight have hold ratings.

Range Resources Corporation

Goldman Sachs sold 5,160,333 shares of Range Resources Corporation last quarter and now holds a total of 168,296 shares in the company. This position is 0.01% of its portfolio. The share price of the company has increased from $44.98 on December 31, 2010, to $58.46 on March 31, 2011.

Range Resources Corporation is an independent natural gas and oil company. The Company is engaged in the exploration, development and acquisition of primarily natural gas and oil properties, mostly in the Appalachian and Southwestern regions of the United States. As of December 31, 2010, it owned 2,688,000 gross acres of leasehold, including 340,000 acres where it also owned a royalty interest. Range Resources’ EPS forecast for the current year is $0.99 and for the next year is $1.59. According to consensus estimates, its top line is expected to grow 21.80% in the current year and 32.30% in the next year. It is trading at a forward P/E of 33.60. Out of 28 analysts covering the company, 18 are positive and have buy ratings, eight have hold ratings and two have sell ratings.

Broadcom Corp.

Goldman Sachs sold 7,407,899 shares of Broadcom Corp last quarter and now holds a total of 2,497,185 shares. This position is 0.07% of its portfolio. The share price of the company has decreased from $43.55 on December 31, 2010, to $39.38 on March 31, 2011.

Broadcom Corporation is a provider of semiconductor for wired and wireless communications. Broadcom products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. The Company provides a range of system-on-a-chip (SoC), and software solutions to manufacturers of computing and networking equipment, digital entertainment and broadband access products, and mobile devices. Broadcom’s EPS forecast for the current year is $2.83 and next year is $3. According to consensus estimates, its top line is expected to grow 11.20% in the current year and 10.00% next year. It is trading at a forward P/E of 11.70. Out of 42 analysts covering the company, 26 are positive, have buy ratings and 16 have hold ratings.

Biogen Idec Inc.

Goldman Sachs sold 3,875,607 shares of Biogen Idec Inc last quarter and now holds a total of 5,961,581 shares. This position is 0.03% of its portfolio. The share price of the company has increased from $67.05 on December 31, 2010, to $73.47 on March 31, 2011.

Biogen Idec Inc is a global biotechnology company focused on discovering, developing, manufacturing and marketing products for the treatment of neurological disorders and other serious diseases. The Company’s products include AVONEX, TYSABRI, FUMADERM and RITUXAN. Biogen’s EPS forecast for the current year is $5.89 and next year is $6.23. According to consensus estimates, its top line is expected to grow 2.30% in the current year and 1.30% next year. It is trading at a forward P/E of 14.96. Out of 24 analysts covering the company, eight are positive and have buy ratings, 15 have hold ratings and one has a sell rating.

Weatherford International Ltd.

Goldman Sachs sold 11,611,799 shares of Weatherford International Ltd last quarter and now holds a total of 3,472,346 shares in the company. This position is 0.05% of its portfolio. The share price of the company has remained almost flat from $22.8 on December 31, 2010, to $22.6 on March 31, 2011.

Weatherford International Ltd. is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. Weatherford operates in over 100 countries and has manufacturing facilities and sales, service and distribution located in the oil and natural gas producing regions throughout the world. Weatherford’s EPS forecast for the current year is $.85 and next year is $1.51. According to consensus estimates, its top line is expected to grow 19.20% in the current year and 15.50% next year. It is trading at a forward P/E of 12.79. Out of 32 analysts covering the company, 18 are positive and have buy ratings, 13 have hold ratings and one has a sell rating.

CBS Corp Cl B

Goldman Sachs sold 9,534,540 shares of CBS Corp Cl B last quarter and now holds a total of 13,405,908 shares in the company. This position is 0.23% of its portfolio. The share price of the company has increased from $19.05 on December 31, 2010, to $25.04 on March 31, 2011.

CBS Corporation is a mass media company. CBS Corp. operates in segments, including Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor. The Entertainment segment consists of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Films and CBS Interactive. CBS’ EPS forecast for the current year is $1.71 and next year is $2.08. According to consensus estimates, its top line is expected to grow 3.80% in the current year and 4.30% next year. It is trading at a forward P/E of 12.94. Out of 26 analysts covering the company, 18 are positive and have buy ratings, eight have hold ratings.

MasterCard Incorporated

Goldman Sachs sold 910,735 shares MasterCard Incorporated last quarter and now holds a total of 2,449,299 shares in the company. This position is 0.42% of its portfolio. The share price of the company has increased from $224.11 on December 31, 2010, to $251.72 on March 31, 2011.

MasterCard Incorporated is a global payments company that provides a economic link among financial institutions, businesses, merchants, cardholders and governments worldwide, enabling them to use electronic forms of payment instead of cash and checks. MasterCard’s EPS forecast for the current year is $17.02 and next year is $20.02. According to consensus estimates, its top line is expected to grow 14.00% in the current year and decline 11.50% next year. It is trading at a forward P/E of 14.02. Out of 35 analysts covering the company, 28 are positive and have buy ratings, six have hold ratings and one has a sell rating.

Archer Daniels Midland Company

Goldman Sachs sold 6,297,797 shares of Archer Daniels Midland Company last quarter and now holds a total of 3,241,763 shares in the company. This position is 0.08% of its portfolio. The share price of the company has increased from $30.08 on December 31, 2010, to $36.01 on March 31, 2011.

Archer Daniels Midland Company is principally engaged in procuring, transporting, storing, processing, and merchandising agricultural commodities and products. It is a processor of oilseeds, corn, wheat, cocoa, and other agricultural commodities and is a manufacturer of vegetable oil and protein meal, corn sweeteners, flour, biodiesel, ethanol, and other food and feed ingredients. Archer’s EPS forecast for the current year is $3.27 and next year is $3.39. According to consensus estimates, its top line is expected to grow 26.30% in the current year and 3.00% next year. It is trading at a forward P/E of 9.18. Out of 14 analysts covering the company, eight are positive and have buy ratings, five have hold ratings and one has a sell rating.

Bank of America Corporation

Goldman Sachs sold 15,854,381shares of Bank Of America Corporation last quarter and now holds a total of 59,254,933 shares in the company. This position is 0.53% of its portfolio. The share price of the company has remained almost flat from $13.34 on December 31, 2010, to $13.33 on March 31, 2011.

Bank of America Corporation is a bank holding company, and a financial holding company. Bank of America is a financial institution, serving individual consumers, small and middle market businesses, corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Bank of America’s EPS forecast for the current year is $1.06 and for the next year is $1.71. According to consensus estimates, its top line is expected to decline 4.10% in the current year and grow 5.50% in the next year. It is trading at a forward P/E of 6.57. Out of 31 analysts tracking the stock, 17 are positive and have buy ratings and 14 have hold ratings.

Equity Residential

Goldman Sachs sold 3,727,402 shares of Equity residential last quarter and now holds a total of 1,708,822 shares in the company. This position is 0.07% of its portfolio. The share price of the company has increased from $51.95 on December 31, 2010, to $56.41 on March 31, 2011.

Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in United States markets. Equity Residential’s EPS forecast for the current year is $ 2.46 and for the next year is $ 2.79. According to consensus estimates, its top line is expected to grow 7.10% in the current year and 6.10% in the next year. It is trading at a forward P/E of 21.42. Out of 25 analysts tracking the stock, eight are positive and have buy ratings, 15 have hold ratings and two have sell ratings.

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