FMR LLC recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Fidelity was founded in 1946 by Edward C. Johnson II, whose business strategy was to take risks and buy stocks with growth potential. He believed that mutual funds should rely on an individual’s decisions and put Gerry Tsai in charge of the Fidelity Capital Fund in 1957, who came to manage over $1 billion by the time he left in 1965. Edward’s son Edward C. Johnson III (Ned) joined the company in 1957 and was prepared to become the next president. By the time Ned took over in 1972, The Trend Fund, which Ned had managed, the Magellan Fund, which would become the largest mutual fund in the world, and the DMR Investment Management Service Inc. had been established. In 1974 the Fidelity Daily Income Trust was established, a successful and revolutionary money market fund that was the first to offer check writing. To cut costs, Ned vertically integrated the company and switched to direct sales. Investing in talents and building an infrastructure to prepare Fidelity for further growth. Fidelity became the first major financial institution to offer discount brokerage service, enjoying a period of high growth in the 1980s with assets increasing from $3 billion to $13 billion. As the company grew and added more and more products and services such as The Tax-Exempt Money Market Trust (the first tax-free money market fund) and Ultra Service Account, the company create several subsidiaries who all had presidents that reported directly to Fidelity. Fidelity, especially the Magellan Fund which kept very little liquid capital, was hit hard by the stock market crash in 1987. Ned cut a third of the personnel and focused on expanding the company’s international presence. Fidelity would recover and experience a period of large growth, with assets totally $258 million by 1993 with a client base of over 16 million. Fidelity kept its strategy on promoting trailblazing individuals and based its growth on constant innovation and research, creating technologies such as wireless trading platforms in the 1990s. By the turn of the millennia, Fidelity had surpassed $1 trillion in assets under management, continuing to launch new innovative services. Some of its most notable mutual funds include the Blue Chip Value, Value Discovery and Mid/Large Cap Stock Funds, and some of its most notable ETFs include the iShares MSCI Japan, MSCI EAFE Small-Cap ETF, and Core MSCI EAFE. In 2014, Abigail Johnson became the new CEO of Fidelity.
As of the latest 13F report, the guru’s equity portfolio contained 5096 stocks valued at a total of $956.48Bil. The top holdings were AAPL(5.07%), MSFT(4.97%), and AMZN(3.57%).
According to GuruFocus data, these were FMR LLC’s top five trades of the quarter.
Prime Medicine Inc
The guru established a new position worth 8,462,946 shares in NAS:PRME, giving the stock a 0.01% weight in the equity portfolio. Shares traded for an average price of $15.2 during the quarter.
On 11/10/2022, Prime Medicine Inc traded for a price of $20.52 per share and a market cap of $1.95Bil. The stock has returned 0.00% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Prime Medicine Inc has a price-earnings ratio of 9999.00.
Toast Inc
During the quarter, FMR LLC bought 3,643,094 shares of NYSE:TOST for a total holding of 16,250,275. The trade had a 0.01% impact on the equity portfolio. During the quarter, the stock traded for an average price of $20.78.
On 11/10/2022, Toast Inc traded for a price of $20 per share and a market cap of $10.29Bil. The stock has returned -60.18% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Toast Inc has a price-book ratio of 7.88, a EV-to-Ebitda ratio of -22.95 and a price-sales ratio of 3.25.
Boston Scientific Corp
FMR LLC reduced their investment in NYSE:BSX by 77,681,371 shares. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $40.12.
On 11/10/2022, Boston Scientific Corp traded for a price of $43.65 per share and a market cap of $62.40Bil. The stock has returned 2.63% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Boston Scientific Corp has a price-earnings ratio of 103.73, a price-book ratio of 3.54, a price-earnings-to-growth (PEG) ratio of 16.73, a EV-to-Ebitda ratio of 27.76 and a price-sales ratio of 4.98.
The price-to-GF Value ratio is 0.93, earning the stock a GF Value rank of 6.
Amazon.com Inc
During the quarter, FMR LLC bought 16,008,843 shares of NAS:AMZN for a total holding of 302,056,199. The trade had a 0.19% impact on the equity portfolio. During the quarter, the stock traded for an average price of $126.4.
On 11/10/2022, Amazon.com Inc traded for a price of $95.835 per share and a market cap of $981.36Bil. The stock has returned -44.75% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Amazon.com Inc has a price-earnings ratio of 88.25, a price-book ratio of 7.14, a price-earnings-to-growth (PEG) ratio of 2.11, a EV-to-Ebitda ratio of 18.76 and a price-sales ratio of 1.96.
The price-to-GF Value ratio is 0.50, earning the stock a GF Value rank of 4.
Apple Inc
During the quarter, FMR LLC bought 6,582,142 shares of NAS:AAPL for a total holding of 350,900,116. The trade had a 0.1% impact on the equity portfolio. During the quarter, the stock traded for an average price of $156.95.
On 11/10/2022, Apple Inc traded for a price of $144.225 per share and a market cap of $2,290.53Bil. The stock has returned -2.05% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 23.57, a price-book ratio of 45.28, a price-earnings-to-growth (PEG) ratio of 1.35, a EV-to-Ebitda ratio of 16.68 and a price-sales ratio of 5.96.
The price-to-GF Value ratio is 0.83, earning the stock a GF Value rank of 7.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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