Teva, Apple shares rip higher after Warren Buffett's Berkshire discloses investments

16 February, 2018, 07:00 | Author: Jacqueline Daniels
  • Bitcoin has surpassed US$9,000 for the first time since Feb

Last month, Berkshire said it would work with and JPMorgan Chase & Co to create their own healthcare company. The "Oracle of Omaha" has made his fortunes through long-term value investing and possesses a track record that speaks for itself.

"IBM is a big strong company, but they've got big strong competitors too", Buffett told CNBC past year.

Berkshire hasn't revealed the reasons why it bought Teva shares.

This disclosure of Berkshire Hathaway selling IBM stock did not appear to have an effect on IBM's stock, which in afterhours trading moved slightly higher.

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Stocks in the red include NetAp as the data management company reported a loss due to the new tax law, SunPower as the solar firm's full year revenue forecast came in below expectations, and TreeHouse Foods - shares tumbling as the packaged food manufacturer issued full-year profit guidance that missed the mark.

Berkshire also increased its Monsanto investment by 31% and now owns 11.7 million shares. Teva Pharmaceutical is an Israeli company that manufactures general goal drugs.

Well, IBM rallied a bit during the fourth quarter of 2017, and apparently that was enough to send Berkshire heading for the exits.

Aside from Berkshire Hathaway's tech stock dealings, the USA investment firm's decision to buy a stake in Teva came with a purchase of 18.9 million shares, which are worth in the region of $358 million. Further, Somerset Group Llc reported stake worth 12.70% of its portfolio. The ownership in Q3 2015 is extremely high, at Infinity of the outstanding shares.

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Berkshire's stake in American Airlines was slightly reduced by 1 million shares.

Buffett told CNBC in early January that Berkshire was a net buyer of stocks early this year, so it's possible that it could be making a dent in its stash of cash now.

Berkshire also almost completed its year-long exit from International Business Machines Corporation (IBM) selling more than 94 percent of what was left from an investment Mr. Buffett has admitted was not among his best. We won't know what he's buying now until mid-May, but many of its investors are probably hoping for more buying, especially after the recent market correction.

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