Carmignac Gestion Trims Apple Holdings Amid Mixed Hedge Fund Sentiment
Carmignac Gestion, a hedge fund, has made changes to its Apple Inc. holdings. The company sold 10,194 shares of Apple stock during the first quarter, reducing its stake in the iPhone maker by 68.1%. At the end of the quarter, Carmignac Gestion owned 4,785 shares of Apple's stock, valued at $1,214,000. This move comes as other hedge funds are also making adjustments to their Apple holdings.
Notably, Vanguard Group Inc. increased its position in Apple by 1.9% during the fourth quarter, buying an additional 26,856,752 shares of the company's stock. State Street Corp also grew its stake in Apple by 1.1% in the same period, purchasing more than 6 million shares.
Apple has been a significant player in the tech industry, with a market capitalization nearing $4.46 trillion. The company reported earnings of $2.02 per share for the quarter, beating expectations and resulting in a return on equity of 135.46%. Apple's revenue for the quarter was up 16.4% compared to the same period last year.