Berkshire buys Teva, bites more Apple, feels IBM blues

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Reuters
Last Updated : Feb 15 2018 | 3:45 AM IST

(Reuters) - Warren Buffett's Berkshire Hathaway Inc on Wednesday said it has taken a new stake in Teva Pharmaceutical Industries Ltd , significantly boosted its holdings of Apple Inc and has nearly shed a less successful investment in IBM Corp .

In a regulatory filing detailing its U.S.-listed stock holdings as of Dec. 31, Berkshire reported owning about 18.9 million of the American depositary receipts in Teva, one of the world's largest generic drug makers, worth about $358 million.

Teva's share price rose more than 10 percent after Berkshire reported its ownership stake.

Berkshire also reported a 23 percent increase since the end of September in its Apple stake, to about 165.3 million shares, and a 94.5 percent decline in its stake in International Business Machines Corp, to 2.05 million shares.

(Reporting by Jonathan Stempel in New York; Editing by Leslie Adler)

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First Published: Feb 15 2018 | 3:35 AM IST

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