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4 Stock Picks From Top Managers

Our Ultimate Stock-Pickers made sizable investments in these names last quarter.

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Each quarter, we take a look at the recent transactions of some of the top money managers around today--who we call our Ultimate Stock-Pickers. Last quarter, four stocks were high-conviction purchases for three of our favorite managers. What's considered a high-conviction purchase? A high-conviction purchase is one that makes a meaningful addition to a portfolio, as measured by the size of the purchase in relation to the size of the portfolio.

First up is Apple. Morningstar assigns Apple a narrow economic moat rating and a stable moat trend. We think the firm's primary moat source is customer switching costs, because Apple bolsters the user experience with a variety of extra products--such as the iPad, Apple TV, Apple Watch, and AirPods--and services, including iMessage, FaceTime, and Apple Pay, that augment Apple's sphere of influence on the consumer. We think shares are worth $98 apiece.

Morningstar does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.