AbbVie Inc (ABBV), Verizon Communications Inc. (VZ): Grisanti Brown & Partners’ Latest 13F Shows Focus on Consumer & Healthcare Stocks

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Grisanti Capital Management held 344,900 shares of Verizon Communications Inc. (NYSE:VZ) at the end of March with a value of $16.77 million. For the first quarter, Verizon reported revenue up by 3.8% year-over-year to around $32 billion. The company’s earnings rose 21.4% to $1.02 per share. Analysts were expecting earnings of $0.95 per share on revenue of $32.3 billion. During the first quarter, Verizon Communications Inc. (NYSE:VZ) added 565,000 subscribers for a total of 102.6 million clients. Warren Buffett’s Berkshire Hathaway also owns around 15.0 million shares of Verizon Communications Inc. (NYSE:VZ) as of the end of last year.

Grisanti Capital Management also increased its positions in Valero Energy Corporation (NYSE:VLO) by 20% to 258,010 shares, worth $16.41 million. The move comes after the stock of Valero gained more than 29% in the first three months of 2015.  Valero Energy Corporation is one of the largest independent marketer and refiner of petroleum in the USA, with a refining capacity of around 2.9 million barrels per day. Its refineries are located in Canada, USA, and the Caribbean. For the first quarter, Valero Energy Corporation (NYSE:VLO) posted a strong year-on-year growth in earnings to $1.87 per share from $1.54. Valero also raised its dividend by 4.3% to $0.28 per share. Billionaires David Shaw, Israel Englander and Steven Cohen reported large positions in Valero Energy Corporation (NYSE:VLO) as of the end of 2014, with Englander and Cohen boosting their stakes during the fourth quarter.

During the first three months of 2015, Grisanti Capital Management surged its stake in Medtronic PLC (NYSE:MDT) by around 129,950 shares to 207,300 shares with a total value of $16.17 million. Medtronic PLC (NYSE:MDT) is the world’s third largest medical device company with operations in more than 145 countries, whose stock gained more than 8% during the first quarter amid the acquisition of Covidien for around $49.9 billion, which aside from expanding Medtronic’s portfolio of products and services will also result in significant tax savings due to the fact that the new corporation is registered in Ireland. Among the billionaires we track, Israel Englander, Daniel Och, and Ken Griffin disclosed substantial positions in Medtronic PLC (NYSE:MDT) as of the end of last year.

Disclosure: None

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