DAVENPORT & Co LLC recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Davenport & Co LLC is an investment services firm based out of Richmond Virginia. The firm was originally established in 1861 by Isaac Davenport, Jr. and Charles E. Wortham as an insurance agency. The company would grow and extend its business to railroads, banks, and insurance companies by 1863. Both of the original founders would be deceased by 1896 and they would be replaced by Virginius Newton and Coleman Wortham, Sr. Davenport & Co continued to grow since then with the president Coleman Wortham, Sr. buying a seat on the NYSE in 1921 and the company selling off its insurance business to Marsh & McLennan in 1924. The company would be merge with Branch and Co. in 1975 and begin expansions in the 1980s, opening up new offices in Virginia Beach, Charlottesville, Williamburg, Newport, and Farmville. Davenport & Co would move into its current headquarters in the One James Center in 1992 and continue to add office locations with new openings in Fredericksburg, Franklin, Roanoke, Lynchburg, White Stone, Norfolk, and Raleigh throughout the 1990s. The company would then launch new programs and strategies such as the FundAdvisor Program and Value & Income Portfolio in the 2000s, reaching $3 billion in managed assets by 2007. Davenport & Co currently has 410 employees with 262 investment professionals. The company invests most heavily in the finance sector, which alone makes up approximately a third of its total asset allocations, and also invests in the consumer discretionary, health care, consumer staples, and information technology sectors, among others, in order of decreasing allocation. Davenport & Co currently holds over $8.6 billion in total assets under management spread across 13,750 accounts, the majority 13,300 of which are discretionary. The company mainly caters to individuals, which alone makes up over half of its client base, and also provides its services to a variety of other clientele. Davenport & Co’s mutual fund offerings currently includes its Core, Value & Income, Equity Opportunities, and Small Cap Focus funds.
As of the latest 13F report, the guru’s equity portfolio contained 1002 stocks valued at a total of $12.24Bil. The top holdings were MKL(3.53%), JNJ(2.65%), and BRK.B(2.14%).
According to GuruFocus data, these were DAVENPORT & Co LLC’s top five trades of the quarter.
Brookfield Asset Management Ltd
The guru established a new position worth 3,310,792 shares in NYSE:BAM, giving the stock a 0.78% weight in the equity portfolio. Shares traded for an average price of $30.09 during the quarter.
On 01/21/2023, Brookfield Asset Management Ltd traded for a price of $32 per share and a market cap of $13.15Bil. The stock has returned 0.00% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Brookfield Asset Management Ltd has a price-earnings ratio of 9999.00 and a EV-to-Ebitda ratio of 12.38.
Sony Group Corp
DAVENPORT & Co LLC reduced their investment in NYSE:SONY by 1,226,514 shares. The trade had a 0.6899999999999999% impact on the equity portfolio. During the quarter, the stock traded for an average price of $74.69.
On 01/21/2023, Sony Group Corp traded for a price of $89.29000000000001 per share and a market cap of $110.25Bil. The stock has returned -21.25% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Sony Group Corp has a price-earnings ratio of 14.96, a price-book ratio of 2.08, a price-earnings-to-growth (PEG) ratio of 1.06, a EV-to-Ebitda ratio of 7.45 and a price-sales ratio of 1.37.
The price-to-GF Value ratio is 1.03, earning the stock a GF Value rank of 7.
Dominion Energy Inc
DAVENPORT & Co LLC reduced their investment in NYSE:D by 1,019,093 shares. The trade had a 0.61% impact on the equity portfolio. During the quarter, the stock traded for an average price of $62.8.
On 01/21/2023, Dominion Energy Inc traded for a price of $62.42 per share and a market cap of $52.01Bil. The stock has returned -17.81% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Dominion Energy Inc has a price-earnings ratio of 22.37, a price-book ratio of 1.94, a EV-to-Ebitda ratio of 14.19 and a price-sales ratio of 3.18.
The price-to-GF Value ratio is 0.76, earning the stock a GF Value rank of 9.
Wells Fargo & Co
During the quarter, DAVENPORT & Co LLC bought 1,521,488 shares of NYSE:WFC for a total holding of 1,578,448. The trade had a 0.51% impact on the equity portfolio. During the quarter, the stock traded for an average price of $44.26.
On 01/21/2023, Wells Fargo & Co traded for a price of $43.92 per share and a market cap of $168.38Bil. The stock has returned -18.24% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Wells Fargo & Co has a price-earnings ratio of 13.99, a price-book ratio of 1.05, a price-earnings-to-growth (PEG) ratio of 3.68 and a price-sales ratio of 2.27.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
Novo Nordisk A/S
During the quarter, DAVENPORT & Co LLC bought 391,397 shares of NYSE:NVO for a total holding of 401,745. The trade had a 0.43% impact on the equity portfolio. During the quarter, the stock traded for an average price of $117.25.
On 01/21/2023, Novo Nordisk A/S traded for a price of $141.1 per share and a market cap of $317.35Bil. The stock has returned 49.38% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Novo Nordisk A/S has a price-earnings ratio of 42.51, a price-book ratio of 28.33, a price-earnings-to-growth (PEG) ratio of 6.07, a EV-to-Ebitda ratio of 27.16 and a price-sales ratio of 13.06.
The price-to-GF Value ratio is 1.62, earning the stock a GF Value rank of 1.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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