Here Are The Major Moves Made By Bridgewater Associates Going Into 2017

Other Moves Made By Bridgewater Associates During Q4

Molson Coors Brewing Co (NYSE:TAP)

– Shares Held By Bridgewater Associates (as of December 31): 284,700

– Value of Holding (as of December 31): $27.70 Million

With Bridgewater Associates hiking its stake in Molson Coors Brewing Co (NYSE:TAP) by over 9,000% during the fourth quarter, the position jumped from being a miniscule one to being the 13th-largest holding of the fund at the end of 2016. Molson Coors Brewing Co (NYSE:TAP)’s stock underwent a 10% correction during the October-December period and has mostly been range-bound this year. On February 14, the company reported its fourth quarter results, declaring EPS of $0.46 on revenue of $2.47 billion versus analysts’ estimates of $0.87 in EPS on revenue of $2.57 billion. Last month, analysts at Credit Suisse initiated coverage on Molson Coors’ stock with a ‘Neutral’ rating and $106 price target.

Intel Corporation (NASDAQ:INTC)

– Shares Held By Bridgewater Associates (as of December 31): 17,482

– Value of Holding (as of December 31): $13.49 Million

Moving on, Intel Corporation (NASDAQ:INTC) dropped to 11th in Bridgewater Associates’ 13F portfolio as of the end of December, down from seventh spot at the end of September, owing largely to the fund lowering its stake in the company by 37% during the fourth quarter. Shares of the tech major have performed well in the last year, generating a return of over 25%. However, the company has been struggling to compete with other semiconductor firms over the last few years. Citing that as one of the major reasons, Canaccord Genuity analyst Matthew Ramsay downgraded Intel Corporation (NASDAQ:INTC) to ‘Hold’ from ‘Buy’ on February 10, and also lowered his price target on it to $38 from $43, suggesting potential upside of only 5.7%.

Apple Inc. (NASDAQ:AAPL)

– Shares Held By Bridgewater Associates (as of December 31): 416,500

– Value of Holding (as of December 31): $48.24 Million

In what could be deemed as the right move at the right time, Bridgewater Associates upped its holding in Apple Inc. (NASDAQ:AAPL) by 20% during the fourth quarter. Since the end of that period, Apple Inc. (NASDAQ:AAPL)’s stock has appreciated by 16.58% and is currently trading at its lifetime high. However, Bridgewater won’t be alone in capitalizing on the recent gains from the tech behemoth. Another titan from the hedge fund industry, Warren Buffett‘s Berkshire Hathaway, upped its stake in Apple by a whopping 276% to 57.36 million shares during the October-December period. Earlier this week, UBS analyst Steve Milunovich released a note in which he reiterated  his ‘Buy’ rating  and $138 price target on Apple’s stock. In his note, Mr. Milunovich wrote:

“Management has emphasized the importance of services the past year. We consider the installed base and retention rate the primary drivers of device and services value. We also view Apple as a platform vendor with hardware and services intertwined. However, to test the notion that the market underappreciates services, we performed a sum-of-the-parts analysis. If Apple services were valued similarly to PayPal, the stock would be at least 10% higher.”

Disclosure: None