Warren Buffett sold off $800 million worth of Apple stock last quarter

Warren Buffett, billionaire investor and CEO of real estate company Berkshire Hathway, has sold over $800 million dollars worth of Apple stock over the last quarter, according to SEC filings published last Friday. Depending on when Berkshire Hathaway sold the 3.7 million shares of Apple stock over the last quarter, it earned the company anywhere between $806 million and $1.1 billion.

According to Business Insider, the transaction may appear to be a massive sell-off but is, in perspective, a small portion of the real estate mogul's portfolio with Apple. Berkshire Hathway continues to be the largest shareholder of Apple with a 5.4% stake in the company that is currently worth about $72 billion dollars.

The exact reason for the sale is currently unknown, but it is speculated that the company sold that shares to account for some of Berkshire's other investments last quarter, particularly their new investments in Kroger and Biogen.

Another potential reason is that Berkshire is trying to diversify its portfolio while Apple's shares are surging. The company's stock grew 85% in the last year to $325 a share, and Apple alone currently accounts for 30% of Berkshire's holdings.

Warren Buffett has been a longtime investor in Apple, so the latest sale shouldn't alarm anyone about his opinion as far as Apple goes as an investor. He continues to hold the largest position in the company and will most likely continue to do so for the foreseeable future.