Fidelity also bought 5.5 million shares of Microsoft building its stake to 14.6 million shares and doubled down on U.S. Bancorp (USB) with a stake that is now at just under 9 million shares.
The fund also cut back its Gilead Sciences (GILD) stake by almost 50%, although it still holds 7 million shares of the drug developer.
The $26 billion Low-Priced Stock Fund, with 931 stocks and up 11.6% this year, also made a big buy of Microsoft, adding 7.2 million shares to what was already the fund's second-largest position. It also bought 7.2 million shares of Staples (SPLS), building its stake in the office-products chain to 22 million shares.Fidelity is Staples' biggest shareholder, with just over 4% of its shares. The $12 billion Fidelity Blue-Chip Growth Fund (FBGRX), up 17.5% this year, had no new purchases among its top holdings, but added 2 million Microsoft shares to bring its stake to over 7 million, and picked up 46,000 shares of Qualcomm. Other big purchases of Blue-Chip Growth, on a relative basis, was 1.4 million shares of data-storage firm Netapp (NTAP), 1.4 million shares of Comcast, and 1.1 million shares of Ingersoll-Rand (IR), to bring its stake in the industrial machinery maker to 1.7 million shares. The $8 billion, 513-stock Fidelity Dividend Growth Fund (FDGFX), up 13% this year, also bulked up on Microsoft, adding 1.1 million shares to a stake of 2.6 million and upped its holding in Ardea Biosciences (RDEA) by about 60% to 1.1 million shares. It had no new positions in its top 100 holdings. The $952 million Fidelity Large Cap Stock Fund (FLCSX), up 12.8% this year, made no real significant portfolio changes in its top 100 holdings in the 222-stock portfolio. The following is a synopsis of 10 of the companies that Fidelity funds have added recently, in inverse order of share-price return this year: 10. U.S. Bancorp (USB) Company profile: U.S. Bancorp, with a market value of $60 billion, is the fifth-largest bank, by assets in the U.S., with assets of $340 billion. Dividend Yield: 2.49% Investor takeaway: Its shares are up 15% this year and have a three-year, average annual return of 22%. Analysts give its shares seven "buy" ratings, six "buy/holds," 17 "holds," one "weak hold," and one "sell," according to a survey of analysts by S&P. 9. Staples (SPLS) Company profile: Staples, with a market value of $11 billion, is the leading operator of office-products superstores with about 2,300 units in the U.S. and internationally. Dividend Yield: 2.74% Investor takeaway: Its shares are up 15% this year and have a three-year, average annual loss of 7%. Analysts give its shares seven "buy" ratings, five "buy/holds," seven "holds," and two "weak holds," according to a survey of analysts by S&P. 8. NetApp (NTAP) Company profile: NetApp, with a market value of $16 billion, is a provider of storage hardware, software and services to a variety of enterprise customers. Dividend Yield: N/A Investor takeaway: Its shares are up 18% this year and have a three-year, average annual return of 36%. Analysts give its shares 12 "buy" ratings, six "buy/holds," 16 "holds," and one "weak hold," according to a survey of analysts by S&P. 7. Microsoft (MSFT) Company profile: Microsoft, with a market value of $255 billion, developed and sells the Windows PC operating system and the Office suite of productivity software, among other products. The company faces a challenge in the impending move to cloud computing by most users because Web-based applications will be managed there, a threat to the Windows PC operating system. Dividend Yield: 2.57% Investor takeaway: Its shares are up 20.5% this year and have a three-year, average annual return of 19%. Analysts give its shares 14 "buy" ratings, eight "buy/holds," and 13 "holds," according to a survey of analysts by S&P. Company-wide, Fidelity owns just over 1% of Microsoft's shares, making it the eighth-largest shareholder. 6. Wells Fargo (WFC) Company profile: Wells Fargo, with a market value of $278 billion, is a bank holding company that provides banking, insurance, investment, mortgage and consumer-finance services throughout North America. Dividend Yield: 2.61% Investor takeaway: Its shares are up 22% this year and have a three-year, average annual return of 21%. Analysts give its shares 14 "buy" ratings, nine "buy/holds," eight "holds," and one "sell," according to a survey of analysts by S&P.
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