Sexta-feira, 24 Fevereiro, 2017

Berkshire Hathaway Buys More Apple and Airline Stocks

Warren Buffett Bets Big on Apple, Drops Deere, and Cuts Wal-Mart Warren Buffet's Berkshire Hathaway added over 40M AAPL shares last quarter, stake now valued at $7.7B
Dinis Gusmão | 17 Fevereiro, 2017, 00:06

Looking more closely at the other fourth-quarter purchases, Berkshire almost quadrupled its stake in Apple, picking up an additional 42 million shares for an estimated $4.8 billion (making it the insurer's seventh-largest holding-accounting for 4.5% of its equity portfolio-at the end of 2016).

The company reported as well a stake of $9.3 billion in airlines, with investment exceeding $2.1 billion in each of Delta Air Lines, American Airlines, United Continental and Southwest Airlines. Vetr upgraded shares of Berkshire Hathaway from a "sell" rating to a "hold" rating and set a $143.18 price target on the stock in a report on Monday, September 12th.

The larger stake now makes Berkshire one of the top 10 largest investors in Apple.

Warren Buffett has promised to unleash on active managers in his annual Berkshire Hathaway shareholder letter later this month.

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Berkshire did not respond to a request for comment.

Cupertino-based Apple's stock has soared more than 16 percent this year and climbed to an all-time record this week. They now have a Dollars 281500 price target on the stock.

"It's quite possible that Warren woke up and began to understand the virtues of Apple that he had been neglecting or, like with Precision Castparts, Todd or Ted had an affinity for Apple that sparked interest from Warren", Russo said.

Buffett started building a position in the stock past year when the market turned bearish on it due to sluggish iPhone sales and declining revenue.

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Combs and Weschler are the leading candidates to eventually succeed Buffett as Berkshire's chief investment officer.

Everyone is aware of the aversion that Buffett had for technological stocks.

Such increases often occur when investors perceive that Berkshire has given a company its imprimatur. This additional purchased raised the value of Berkshire's stake in Apple from around $1.7 billion to $6.64 billion in December.

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