Berkshire Hathaway adds Apple and Teva shares, sells IBM stake

By Pouyan Broukhim

Warren Buffett’s Berkshire Hathaway recently disclosed a range of market activity, revealing that it had bought a new stake in Teva Pharmaceutical Industries, purchasing a total 18.9mn shares in the Israeli-based pharmaceutical firm – a stake valued at $365.3mn.

Teva’s shares rose over 10% in after hours trading off the back of the investment.

See also:

Further, the company also became Apple’s largest common stock investor, having upped its holdings in the US tech giant by 31.24mn shares to a total 165.33mn shares compared to the 134.09mn recorded on 31 December, according to data from MarketWatch.

However, whilst Berkshire made new investments, it also ditched its less successful ventures, having sold over 94% of its International Business Machines (IBM) stake. This was originally purchased back in 2011, with Buffett since having admitted that it was one of his bigger investing mistakes.

Additionally, Berkshire also announced that it would be selling more than 43% of oil refiner Phillips 66 in a share repurchase program for approximately $3.3bn.

The investment announcements from Berkshire follow on from the company signing a new partnership with Amazon and JPMorgan Chase & Co. in the aim of creating a new leading healthcare company throughout 2018.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI