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Warren Buffet's stock moves: Cuts stake in IBM by 32%; adds to Apple

Berkshire also reported lower stakes in Wells Fargo & Co and cable TV company Charter Communications Inc. It also no longer reported a stake in Wabco Holdings Inc

Reuters  |  NEW YORK 

Warren Buffett's Berkshire Hathaway Inc has sold another large piece of its stake in IBM Corp, backing further away from an investment that the billionaire has admitted was not one of his best. Berkshire cut its IBM stake 32 per cent in the third quarter to about 37 million shares worth $5.37 billion from 54.1 million shares worth $8.32 billion, according to a Tuesday regulatory filing detailing its U.S.-listed stock holdings. The IBM share stake has fallen by 54 percent since the end of 2016 when Berkshire owned roughly 81 million shares for which it paid about $13.8 ...

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First Published: Wed, November 15 2017. 10:37 IST