A Look at Wellington's Top 15 Sells

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Includes: AAPL, DE, F, GLW, GOOG, GS, INTC, IR, MDT, MRO, NTAP, QCOM, WFC, WMT, XOM
by: The Analyst Hub

Wellington Management Company, LLP is an investment advisory and hedge fund firm managing over $300bn in equity assets. The firm manages Hartford series of funds in addition to other funds. WMC caters to individuals, institutions and pension and profit sharing plans, charitable organizations, banking and corporations.

I discussed the Top Buys of Wellington in my previous article here. In addition to buys, it is also interesting to have a look at top companies where BlackRock Capital is booking profit and selling its holdings.

The following is a list of its top 15 sells in the last quarter, as released in its most recent 13F filing with the SEC.

Company

Symbol

Shares held 12-31-2010

Shares held 03-31-2011

Covidien Plc

(COV)

24,485,415

0

Apple Inc

(NASDAQ:AAPL)

10,658,885

8,143,273

The Goldman Sachs Group Inc

(NYSE:GS)

13,872,718

8,374,730

QUALCOMM Incorporated

(NASDAQ:QCOM)

41,712,342

26,083,729

Intel Corporation

(NASDAQ:INTC)

50,512,694

17,720,619

Marathon Oil Corporation

(NYSE:MRO)

22,310,876

10,037,839

Wells Fargo & Company

(NYSE:WFC)

169,717,139

152,451,637

Wal-Mart Stores Inc

(NYSE:WMT)

11,853,608

2,120,740

Corning Inc

(NYSE:GLW)

43,863,847

20,948,559

NetApp Inc

(NASDAQ:NTAP)

16,859,258

7,102,398

Ingersoll-Rand Plc

(NYSE:IR)

18,913,338

9,625,889

Ford Motor Company

(NYSE:F)

166,106,515

139,016,447

Google Inc

(NASDAQ:GOOG)

2,581,727

1,895,428

Exxon Mobil Corp

(NYSE:XOM)

73,849,692

69,557,091

Deere & Company

(NYSE:DE)

10,848,742

7,125,167

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:

Covidien Plc

Wellington sold all (24,485,415) shares of Covidien Plc last quarter. The share price of the company has increased from $45.66 on 31 December 2010 to $51.94 on 31 March.

Covidien Plc is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. The company operates its businesses through three segments: Medical Devices, Pharmaceuticals and Medical Supplies.

Covidien’s EPS forecast for the current year is $3.86 and next year is $4.23. According to consensus estimates, its top line is expected to grow 9.50% in the current year and 4.70% next year. It is trading at a forward P/E of 12.59. Out of 22 analysts covering the company, 21 are positive and have buy ratings and one has a hold rating.

Apple Inc

Wellington sold 2,515,612 shares of Apple Inc last quarter and now holds a total of 8,143,273 shares. This position is 1.01% of its portfolio. The share price of the company has increased from $322.56 on 31 December 2010 to $348.50 on 31 March.

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 $28.68. According to consensus estimates, its top line is expected to grow 58.30% in the current year and 20.80% next year. It is trading at a forward P/E of 11.80. Out of 54 analysts covering the company, 50 are positive and have buy ratings, three have hold ratings and one has a sell rating.

The Goldman Sachs Group Inc

Wellington sold 5,497,988 shares of The Goldman Sachs Group Inc last quarter and now holds a total of 8,374,730 shares. This position is 0.47% of its portfolio. The share price of the company has decreased from $168.16 on 31 December 2010 to $158.60 on 31 March 2011.

The Goldman Sachs Group Inc together with its subsidiaries provides investment banking, securities, and investment management services to corporations, financial institutions, governments, and high-net-worth individuals worldwide.

Goldman Sachs’ EPS forecast for the current year is $14.42 and next year is $19.04. According to consensus estimates, its top line is expected to grow 7.60% in the current year and 5.90% next year. It is trading at a forward P/E of 7.03. Out of 25 analysts covering the company, 17 are positive and have buy ratings and eight have hold ratings.

QUALCOMM Incorporated

Wellington sold 15,628,613 shares of QUALCOMM Incorporated last quarter and now holds a total of 26,083,729 shares. This position is 0.51% of its portfolio. The share price of the company has increased from $49.49 on 31 December 2010, to $54.47 on 31 March.

QUALCOMM Incorporated engages in the development, design, manufacture, and marketing of digital wireless telecommunications products and services. The company operates in four segments: Qualcomm CDMA Technologies, Qualcomm Technology Licensing, Qualcomm Wireless and Internet, and Qualcomm Strategic Initiatives.

QUALCOMM’s EPS forecast for the current year is $3.14 and next year is $3.48. According to consensus estimates, its top line is expected to grow 34.30% in the current year and 15.50% next year. It is trading at a forward P/E of 16.22. Out of 45 analysts covering the company, 37 are positive and have buy ratings, seven have hold ratings and one has a sell rating.

Intel Corporation

Wellington sold 32,792,075 shares of Intel Corporation last quarter and now holds a total of 17,720,619 shares. This position is 0.13% of its portfolio. The share price of the company has increased from $41.43 on 31 December 2010 to $44.78 on 31 March.

Intel Corporation is a semiconductor chip maker company. The company develops advanced integrated digital technology products, primarily integrated circuits, for industries, such as computing and communications. Intel’s EPS forecast for the current year is $2.29 and next year is $2.39. According to consensus estimates, its top line is expected to grow 22.10% in the current year and 5.70% next year. It is trading at a forward P/E of 14.35. Out of 50 analysts covering the company, 31 are positive and have buy ratings, 16 have hold ratings and three have sell ratings.

Marathon Oil Corporation

Wellington sold 12,273,037 shares of Marathon Oil Corporation last quarter and now holds a total of 10,037,839 shares. This position is 0.19% of its portfolio. The share price of the company has decreased from $21.03 on 31 December 2010 to $20.18 on 31 March.

Marathon Oil Corporation, through its subsidiaries, operates as an integrated energy company primarily in North America, Africa, and Europe. The company operates in four segments: Exploration and Production; Oil Sands Mining; Integrated Gas; and Refining, Marketing, and Transportation.

Marathon’s EPS forecast for the current year is $6.41and next year is $6.30. According to consensus estimates, its top line is expected to grow 20.70% in the current year and 7.20% next year. It is trading at a forward P/E of 3.46. Out of 22 analysts covering the company, 13 are positive and have buy ratings, eight have hold ratings and one has a sell rating.

Wells Fargo & Company

Wellington sold 17,265,502 shares of Wells Fargo & Company last quarter and now holds a total of 152,451,637 shares. This position is 1.72% of its portfolio. The share price of the company has increased from $30.99 on 31 December 2010 to $31.71 on 31 March.

Wells Fargo & Company, through its subsidiaries, provides retail, commercial, and corporate banking services primarily in the United States. The company operates in three segments: Community Banking; Wholesale Banking; and Wealth, Brokerage, and Retirement. Wells Fargo’s EPS forecast for the current year is $2.76 and next year is $3.44. According to consensus estimates, its top line is expected to decline 4.00% in the current year and grow 4.20% next year. It is trading at a forward P/E of 7.63. Out of 31 analysts covering the company, 19 are positive and have buy ratings, ten have hold ratings and two have sell ratings.

Wal-Mart Stores Inc

Wellington sold 9,732,868 shares of Wal-Mart Stores Inc last quarter and now holds a total of 2,120,740 shares. This position is 0.04% of its portfolio. The share price of the company has decreased from $53.93 on 31 December 2010 to $52.05 on 31 March.

Wal-Mart Stores Inc operates retail stores. The company operates in three business segments: Wal-Mart U.S., International and Sam’s Club. Wal-Mart’s EPS forecast for the current year is $4.46 and next year is $4.91. According to consensus estimates, its top line is expected to grow 4.50% in the current year and 4.80% next year. It is trading at a forward P/E of 10.94. Out of 29 analysts covering the company, 16 are positive and have buy ratings, 12 have hold ratings and one has a sell rating.

Corning Inc

Wellington sold 22,915,288 shares of Corning Inc last quarter and now holds a total of 20,948,559 shares. This position is 0.15% of its portfolio. The share price of the company has increased from $19.32 on 31 December 2010 to $20.63 on 31 March.

Corning Inc manufactures and processes specialty glass and ceramics products worldwide. It operates in five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning’s EPS forecast for the current year is $2.05 and next year is $2.24. According to consensus estimates, its top line is expected to grow 23.10% in the current year and 11.60% next year. It is trading at a forward P/E of 8.41. Out of 22 analysts covering the company, 12 are positive and have buy ratings, eight have hold ratings and two have sell ratings.

NetApp Inc

Wellington sold 9,756,860 shares of NetApp Inc last quarter and now holds a total of 7,102,398 shares. This position is 0.12% of its portfolio. The share price of the company has decreased from $54.96 on 31 December 2010 to $48.14 on 31 March.

NetApp Inc is a provider of storage and data management solutions. The company offers solutions for storing, managing, protecting and archiving business data. NetApp’s EPS forecast for the current year is $2.47 and next year is $2.84. According to consensus estimates, its top line is expected to grow 29.70% in the current year and 14.70% next year. It is trading at a forward P/E of 17.74. Out of 37 analysts covering the company, 19 are positive and have buy ratings, 17 have hold ratings and one has a sell rating.

Ingersoll-Rand Plc

Wellington sold 9,287,449 shares of Ingersoll-Rand Plc last quarter and now holds a total of 9,625,889 shares. This position is 0.17% of its portfolio. The share price of the company has increased from $47.09 on 31 December 2010 to $48.31 on 31 March.

Ingersoll-Rand Plc is a diversified company that provides products, services and solutions to enhance the comfort of air in homes and buildings, transport and protect food and perishables, and secure homes and commercial properties. Ingersoll-Rand’s EPS forecast for the current year is $3.08 and next year is $3.95. According to consensus estimates, its top line is expected to grow 5.80% in the current year and 7.20% next year. It is trading at a forward P/E of 11.69. Out of 23 analysts covering the company, 13 are positive and have buy ratings, eight have hold ratings and two have sell ratings.

Ford Motor Company

Wellington sold 27,090,068 shares of Ford Motor Company last quarter and now holds a total of 139,016,447 shares. This position is 0.74% of its portfolio. The share price of the company has decreased from $16.79 on 31 December 2010 to $14.91 on 31 March.

Ford Motor Company is a producer of cars and trucks. Ford and its subsidiaries are also engaged in other businesses, including financing vehicles. It operates under two segments: Automotive and Financial Services. Ford’s EPS forecast for the current year is $1.93 and next year is $2.02. According to consensus estimates, its top line is expected to grow 13.60% in the current year and 8.90% next year. It is trading at a forward P/E of 6.88. Out of 20 analysts covering the company, 13 are positive and have buy ratings and seven have hold ratings.

Google Inc

Wellington sold 686,299 shares of Google Inc last quarter and now holds a total of 1,895,428 shares. This position is 0.40% of its portfolio. The share price of the company has decreased from $593.97 on 31 December 2010 to $586.76 on 31 March. Google Inc maintains an index of Web sites and other online content for users, advertisers, and Google network members and other content providers.

The company generates revenue primarily by delivering online advertising. Google’s EPS forecast for the current year is $33.93 and next year is $39.54. According to consensus estimates, its top line is expected to grow 25.60% in the current year and 20.40% next year. It is trading at a forward P/E of 13.17. Out of 40 analysts covering the company, 35 are positive and have buy ratings and five have hold ratings.

Exxon Mobil Corp

Wellington sold 4,292,601 shares of Exxon Mobil Corp last quarter and now holds a total of 69,557,091 shares. This position is 2.08% of its portfolio. The share price of the company has increased from $73.12 on 31 December 2010 to $84.13 on 31 March 2011.

Exxon Mobil Corp engages in the exploration and production of crude oil and natural gas, and manufacture of petroleum products, as well as transportation and sale of crude oil, natural gas, and petroleum products. The company has operations in the United States, Canada, South America, Europe, Africa, Asia, and Australia. Exxon’s EPS forecast for the current year is $8.81 and next year is $9.16. According to consensus estimates, its top line is expected to grow 28.10% in the current year and 5.90% next year. It is trading at a forward P/E of 8.76. Out of 20 analysts covering the company, eight are positive and have buy ratings, 11 have hold ratings and one has a sell rating.

Deere & Company

Wellington sold 3,723,575 shares of Deere & Company last quarter and now holds a total of 7,125,167 shares. This position is 0.25% of its portfolio. The share price of the company has increased from $83.05 on 31 December 2010 to $96.89 on 31 March 2011.

Deere & Company provides products and services primarily for agriculture and forestry worldwide. The company operates in three segments: Agriculture and Turf, Construction and Forestry, and Credit. Deere’s EPS forecast for the current year is $6.35 and next year is $7.34. According to consensus estimates, its top line is expected to grow 22.50% in the current year and 9.50% next year. It is trading at a forward P/E of 11.13. Out of 18 analysts covering the company, 12 are positive and have buy ratings and six have hold ratings.

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