Warren Buffett Sold Off $800 Million of AAPL Stock Last Quarter

[MacRumors]

Berkshire Hathaway sold $800 million in Apple stock over the last quarter, according to SEC filings published on Friday. Depending on when Warren Buffett's real estate company sold the 3.7 million Apple stock, it will have earned between $806 million and nearly $1.1 billion.

According to Business Insider, what might look like a massive sale is actually only a small portion of Buffett's investment in the tech company. Berkshire is Apple's biggest shareholder with a 5.4 percent stake worth $72 billion, according to Bloomberg data.

It's unclear what prompted the sale, but the company may have wanted to diversify its holdings, given some of its other investments in the last quarter, such as Kroger and Biogen. Apple accounts for 30 percent of Berkshire Hathaway's portfolio. Another possible reason for the sell-off is to cash out after Apple's stock surged by a third last quarter, from around $219 to $294.

Historically, Buffett has shied away from investing in technology companies, but the business magnate has suggested he sees Apple more as a consumer company and has been a long-term investor in the iPhone maker.

Last month, Apple reported quarterly revenue of $91.8 billion and net quarterly profit of $22.2 billion, or $4.99 per diluted share, compared to revenue of $84.3 billion and net quarterly profit of $20.0 billion, or $4.18 per diluted share, in the year-ago quarter. The quarter was the best in Apple's history, topping the first fiscal quarter of 2018.

Article Link: Warren Buffett Sold Off $800 Million of AAPL Stock Last Quarter

 

[DelayedGratificationGene]

Apple stock makes up 29% of Buffett portfolio. One stock making up almost a third of the entire portfolio is really unbelievable. Buffet did say Apple has the stickiest products he has ever seen and when he sees value he goes all in.

 

[CarpalMac]

What, no creepy Carl Ichan photo? Haven't seen one of them in a while!

Interesting though that he piled in just before (I think) a huge amount of Apple buyback occurred. Just sayin...

 

[nylonsteel]

warren buffet is the man

 

[cardfan]

Pretty nonstory considering what his holdings are. He basically sold 1-2% of his Apple stock? Could be for any reason. Tax, free up cash, etc.

 

[one more]

The guy does it regularly, playing with the stock margins and thus enriching himself. Business as usual.

 

[Expos of 1969]

Classy guy. Doesn't appear to go out in public wearing an Apple watch.

 

[NBAasDOGG]

This dude still needs more money on this blue dot....

 

[DeepIn2U]

Apple stock makes up 29% of Buffett portfolio. One stock making up almost a third of the entire portfolio is really unbelievable. Buffet did say Apple has the stickiest products he has ever seen and when he sees value he goes all in.

we need to know how much stock Berkshire Hathaway actually kept! Right now it makes the stock look bad and will affect opening trading value.

 

[Bin Cook]

warren buffet is the man

the most successful insider trader in US history

 

[DeepIn2U]

What, no creepy Carl Ichan photo? Haven't seen one of them in a while!

Interesting though that he piled in just before (I think) a huge amount of Apple buyback occurred. Just sayin...

Carl Icahn, as creepy as he looks is a VERY astute trader and businessman. His “interference” brought us the 8:1 split a few years back of Apple stock. I’m sure a BERY large amount of investors loved that month! If I recall Apple was close to $120, then 8:1 spliteach common stock was at $80 after the split then rose to $100 in less than 30 days held it orincreased ever since!
A bird in the hand is worth 2 in the bush yet baby 7 extra is a party!!

 

[Baymowe335]

Nothing story for anyone who understands the full picture and how all this works.
[automerge]1582031965[/automerge]

we need to know how much stock Berkshire Hathaway actually kept! Right now it makes the stock look bad and will affect opening trading value.

We do know how much he kept and the answer is, almost all of his 250M shares. This was a tiny, tiny portion of his holding that could have been sold for many reasons. What is his opinion on AAPL if he kept 99% of his shares?
[automerge]1582032089[/automerge]

Carl Icahn, as creepy as he looks is a VERY astute trader and businessman. His “interference” brought us the 8:1 split a few years back of Apple stock. I’m sure a BERY large amount of investors loved that month! If I recall Apple was close to $120, then 8:1 spliteach common stock was at $80 after the split then rose to $100 in less than 30 days held it orincreased ever since!
A bird in the hand is worth 2 in the bush yet baby 7 extra is a party!!

It was 7:1 and stock splits do nothing for value.

Carl Icahn sold his AAPL shares around $90 and was completely foolish to do so.

 

[Carnegie]

we need to know how much stock Berkshire Hathaway actually kept! Right now it makes the stock look bad and will affect opening trading value.

Berkshire Hathaway still, as of the end of last year, owned 250.9 million shares of Apple which represented (by Berkshire's calculations) a 5.6% stake in the company. Based on Apple's last reported share count, Berkshire's shares would represent a 5.7% stake in the company.

 

[DelayedGratificationGene]

This dude still needs more money on this blue dot....

View attachment 894893

Pale Blue Dot....that is awesom. Does put everything into perspective of how everything is meaningless. Have a great day!

 

[now i see it]

No point in playing the stock market if you never sell

 

[Morgenland]

--------------------------------------------------no comment

 

[Solomani]

Pretty nonstory considering what his holdings are. He basically sold 1-2% of his Apple stock? Could be for any reason. Tax, free up cash, etc.

Or maybe Buffet just wanted to finally get some cash to construct a NEW millionaire's mansion, rather than that old stuffy family home he's lived in since his youthful days.

Buffet is an odd bird. It's akin to a Lotto Millionaire who still insists on driving his trusty beloved 11-year old Toyota Camry that he's been comfortable in and has found reliable many years before he won the Lotto.

 

[SBlue1]

Apple stock makes up 29% of Buffett portfolio. One stock making up almost a third of the entire portfolio is really unbelievable. Buffet did say Apple has the stickiest products he has ever seen and when he sees value he goes all in.

I believe it was only 10% of his portfolio but it went up 300% in the mean time. I know my Apple stock was just 10% of my portfolio at the time of buying. Well now, lets just say its a way bigger portion.

 

[patent10021]

the most successful insider trader in US history

Exactly. Nice timing before the outbreak. And guess what he's going to buy back after these stocks hit rock bottom due to the global pandemic? Bill Gates (vaccine angel) "predicted" the pandemic and we all know who his circle of friends is.

 

[PinkyMacGodess]

But did he short the stock before he sold it?

 

[faust]

Or maybe Buffet just wanted to finally get some cash to construct a NEW millionaire's mansion, rather than that old stuffy family home he's lived in since his youthful days.

Buffet is an odd bid. It's akin to a Lotto Millionaire who still insists on driving his trusty beloved 11-year old Toyota Camry that he's been comfortable in and has found reliable many years before he won the Lotto.

Oh yes, I'm sure you have to deal with the new rich all the time, my good man.

 

[PinkyMacGodess]

Or maybe Buffet just wanted to finally get some cash to construct a NEW millionaire's mansion, rather than that old stuffy family home he's lived in since his youthful days.

Buffet is an odd bid. It's akin to a Lotto Millionaire who still insists on driving his trusty beloved 11-year old Toyota Camry that he's been comfortable in and has found reliable many years before he won the Lotto.

One of the richest persons I know still drove his 20 year old SAAB, and lived in a house in a 'starter home community'. He was worth billions, and the car he drove was worth hundreds, and the home he lived in was probably bought for under 50k when he moved into it. There is nothing wrong with frugality. There is rumoured to be a house around here with a 'custom kitchen' that cost over 70k to install, and the rest of the house is equally amazing. It's in a suburb, and looks like a dump from the outside. I wonder about the resale value, but it's their home.

It's funny, he pretends not to care, but so many people follow him. Unreal... *shrug*