Zurcher Kantonalbank (Zurich Cantonalbank) recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
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.
The Zurich Cantonal Bank is the fourth largest bank in Switzerland and the largest cantonal bank. The bank was founded in 1870 with the foundational support of council member Johan Jakob Keller. Zurich Cantonal Bank was intended to be the “bank for the citizens of Zurich” and would provide for the needs of workmen and employees for their businesses and neglected industrial companies. The canton of Zurich provided the original necessary endowment capital and guaranteed the liabilities of the bank and appointed the governing board for the entity. During the early 1900s, the company would experience an accelerated growth that reflected the significant upturn of the Zurich economy. The Zurich Cantonal Bank would keep conservative business operations and be able to withstand the credit crisis of the early 1930s with relative ease and would be able to provide stability and reliability within the canton during the wars ad crises of the first half of the 1900s. The company would become an important international financial center during the later 1900s and would reach CHF 35 billion in total assets with over 3,700 employees by 1988. Although the Zurich Cantonal Bank would suffer some setbacks during the estate crisis of the 1990s and be restructured, the company would become an international universal bank. The bank would be hit hard by the 2008 financial crisis and would rely on its interest margin business to provide enough stable income for it to survive. Zurich Cantonal Bank would recover and add nine new business units in the following years. The bank is currently rated one of the five safest banks in the world and currently manages over CHF 150 billion with almost 5,000 employees. Zurich Cantonal Bank operates through a network of over 100 branches in Zurich and has its investments highly diversified with assets allocated a wide variety of sectors.
As of the latest 13F report, the guru’s equity portfolio contained 2783 stocks valued at a total of $18.66Bil. The top holdings were
According to GuruFocus data, these were Zurcher Kantonalbank (Zurich Cantonalbank)’s top five trades of the quarter.
Microsoft Corp
During the quarter, Zurcher Kantonalbank (Zurich Cantonalbank) bought 247,762 shares of NAS:MSFT for a total holding of 3,384,105. The trade had a 0.34% impact on the equity portfolio. During the quarter, the stock traded for an average price of $264.05.
On 02/02/2023, Microsoft Corp traded for a price of $252.75 per share and a market cap of $1,881.42Bil. The stock has returned -17.27% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 28.08, a price-book ratio of 10.28, a price-earnings-to-growth (PEG) ratio of 1.36, a EV-to-Ebitda ratio of 18.28 and a price-sales ratio of 9.27.
The price-to-GF Value ratio is 0.81, earning the stock a GF Value rank of 9.
Alcon Inc
During the quarter, Zurcher Kantonalbank (Zurich Cantonalbank) bought 791,605 shares of NYSE:ALC for a total holding of 6,890,203. The trade had a 0.28% impact on the equity portfolio. During the quarter, the stock traded for an average price of $69.37.
On 02/02/2023, Alcon Inc traded for a price of $76.42 per share and a market cap of $36.94Bil. The stock has returned -1.99% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Alcon Inc has a price-earnings ratio of 66.45, a price-book ratio of 1.80, a price-earnings-to-growth (PEG) ratio of 34.97, a EV-to-Ebitda ratio of 21.19 and a price-sales ratio of 4.20.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
First Solar Inc
During the quarter, Zurcher Kantonalbank (Zurich Cantonalbank) bought 248,209 shares of NAS:FSLR for a total holding of 639,154. The trade had a 0.19% impact on the equity portfolio. During the quarter, the stock traded for an average price of $107.16.
On 02/02/2023, First Solar Inc traded for a price of $180.15 per share and a market cap of $19.20Bil. The stock has returned 131.74% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, First Solar Inc has a price-earnings ratio of 204.72, a price-book ratio of 3.30, a EV-to-Ebitda ratio of 37.78 and a price-sales ratio of 7.60.
The price-to-GF Value ratio is 2.48, earning the stock a GF Value rank of 1.
Apple Inc
During the quarter, Zurcher Kantonalbank (Zurich Cantonalbank) bought 217,617 shares of NAS:AAPL for a total holding of 6,011,833. The trade had a 0.18% impact on the equity portfolio. During the quarter, the stock traded for an average price of $156.95.
On 02/02/2023, Apple Inc traded for a price of $145.43 per share and a market cap of $2,303.06Bil. The stock has returned -16.25% 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 23.80, a price-book ratio of 45.73, a price-earnings-to-growth (PEG) ratio of 1.37, a EV-to-Ebitda ratio of 17.70 and a price-sales ratio of 6.00.
The price-to-GF Value ratio is 0.83, earning the stock a GF Value rank of 9.
Pfizer Inc
During the quarter, Zurcher Kantonalbank (Zurich Cantonalbank) bought 584,125 shares of NYSE:PFE for a total holding of 3,581,058. The trade had a 0.15% impact on the equity portfolio. During the quarter, the stock traded for an average price of $48.59.
On 02/02/2023, Pfizer Inc traded for a price of $43.97 per share and a market cap of $246.82Bil. The stock has returned -14.13% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Pfizer Inc has a price-earnings ratio of 8.02, a price-book ratio of 2.66, a price-earnings-to-growth (PEG) ratio of 0.77, a EV-to-Ebitda ratio of 6.09 and a price-sales ratio of 2.48.
The price-to-GF Value ratio is 0.51, earning the stock a GF Value rank of 4.
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.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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