The sovereign wealth fund of Saudi Arabi, Public Investment Fund (PIF) grew its position in major American corporation stocks including Facebook Inc [NASDAQ: FB], Disney [NYSE: DIS], Pfizer [NYSE: PFE], Marriot [NASDAQ: MAR], Starbucks [NASDAQ: SBUX], BP Plc [NYSE: BP] and Cisco Systems Inc. [NASDAQ: CSCO] in the first quarter.
The $325 million funds appeared as one of the world’s biggest investor comes forward and increases its holdings from a total value of $2.1 billion to $9.78 billion in just a period of three months in major US stocks.
PIF has bought $828 million stakes in BP Plc. BP Plc had a trading volume of 11,133,914 as contrasted to the average volume of 18.69 million. It has an operating margin of -0.20%, a profit margin of -1.20%, and a gross margin of 13.90%. BP has a total market capitalization of 73.45 billion.
In Boeing, PIF has grown its position by purchasing $714 million stakes. Boeing shares plunged -2.06% and -2.52 points down at $120.00 during the last trading session of Friday. It has a day low range of 117.78 and a day high range of 121.89. BA has decreased by -69.31% from its 52-week high, and it has increased 34.83% from its 52-week low at its current price.
PIF also purchased the $521 million stakes in Facebook Inc. Stocks of FB jumped 1.97% and recorded the change of +4.07. The present price of FB is $210.88. It has a day low range of 204.12 and a day high range of 211.31. RELV has decreased by -5.94% from its 52-week high, and it has increased 53.81% from its 52-week low at its current price.
FB’s profit margin is 28.60%, and its Return on Investment (ROI) has reached 17.40%. Its Return on Equity (ROE) is 21.50%, and its Return on Assets (ROA) is 16.30%. Facebook has a trading volume of 19,252,430 as contrasted to its average volume of 24.95 million. The firm has a total market capitalization of 589.22 billion.
However, PIF has decreased its stake in Elon Musk’s Tesla. Shares of Tesla plunged -0.52% at $799.17. Tesla recently got the approval to reopen its California plant amid a shutdown fight between Elon Musk and Alameda County.