In a recent regulatory filing with the Security and Exchange Commission, Smead Capital Management has disclosed that it has increased the stake in all companies from its portfolio, but one, giving way to speculations that the investor believes the current bull market has not run its course yet.
Smead Capital Management seems to be optimistic about prospects of biotechnology company Amgen, Inc. (NASDAQ:AMGN), as it has increased its holdings from the previous quarter by 4.63% to 359,037 shares that have a market value of $42.5 million. However, this is the smallest quarterly increase in a year, suggesting the investor may soon end building its position in Amgen, Inc. (NASDAQ:AMGN). Year-to-date Amgen, Inc. (NASDAQ:AMGN) is up 2.4%, under-performing NASDAQ Composite by 2.15% on general market jitters about overbought biotechnology stocks. Pundits, including Federal Reserve Chairwoman Janet Yellen, have raised concerns about the industry, saying these stocks are in bubble territory.
EBay Inc (NASDAQ:EBAY) is having a hard time as well, with its stock falling over the last year by 2.63%. However, that was not enough to keep Smead Capital Management away from boosting its stake in EBay Inc (NASDAQ:EBAY) by 4.90% or 42,342 shares to 899,504 shares worth $45.03 million. The investor is adding to its EBay Inc (NASDAQ:EBAY) holdings for the seventh straight quarter, reflecting optimism on technology stocks in general and on the company’s future in particular.
The investor has upped its holding of Special Class A shares in Comcast Corporation (NASDAQ:CMCSA) by 3.75% to 646,110 shares valued at $34.46 million. The stock is up 6.15% this year, but has been hit somewhat by the recent market sell-off, as it fell by close to 4% over the last five days. It is worth noticing that Special Class A shares of Comcast Corporation (NASDAQ:CMCSA) pay dividend. Over the last year, Comcast Corporation (NASDAQ:CMCSA) has paid an average quarterly dividend of $0.22 per share, which is up $0.06 compared to the year before.