In a federal filing Tuesday, Warren Buffett’s Berkshire Hathaway Inc. Reported that in the fourth quarter of 2020 the company sold 9.81 million shares of Apple Inc. (NASDAQ: AAPL) for nearly $1.1 billion.
Berkshire Hathaway first began acquiring Apple stock in 2016 with a purchase of 9.81 million shares, and those shares had doubled in value by September of last year. It is probably not coincidental that the number of shares Buffett sold is equal to the number his company first purchased. Berkshire Hathaway also sold about $800 million in Apple stock in the fourth quarter of 2019.
As of September, of last year, Berkshire Hathaway owned Apple stock valued at $111.7 billion, up from shares valued at $73.7 billion in September of 2019. Even after selling shares last quarter, Buffett’s investment in Apple is valued at around $120 billion, according to Bloomberg.
Buffett and Berkshire Hathaway certainly are not giving up on Apple. The company’s stock will continue to be Berkshire Hathaway’s biggest equity investment. Yet, the $1 billion in profits that Buffet and company took will help pay for new stakes Verizon, Marsh & McLennan, and Chevron purchased confidentially in the third quarter of 2020 for around $8 billion.
Berkshire Hathaway may not want any longer to keep more than 40% of its equity holdings in Apple stock.
Selling off small pieces of its stake in Apple gives Berkshire Hathaway funds to invest in other equities, although the firm still concentrates on investments in established, mostly non-high-tech firms.
One of the world’s largest foundations recently disclosed major changes in its investment portfolio. The Bill & Melinda Gates Foundation Trust, which manages the funds of that foundation, sells Alibaba Group Holding, Apple Inc, Amazon.com Inc, Boston Properties Inc, Alphabet Inc during the months ended 2020Q4, according to the most recent filings of the investment company, Bill & Melinda Gates Foundation Trust. As of 2020 Q4, Bill & Melinda Gates Foundation Trust owns 21 stocks with a total value of $22.3 billion.
The Foundation Trust disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.
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