In a recently filed regulatory form, Berkshire Hathaway Inc. (NYSE: BRK-A) disclosed that it paid an average price of $99.49 per share for its 9.81 million shares of Apple Inc AAPL purchased through March 14.
Apple stock moved about 4 percent higher after Warren Buffett’s stake was revealed.
Apple stock traded at $95.72 on Friday, representing about a 4 percent discount to the average price Buffett paid.
Buffett’s purchase represents a price-to-earnings ratio of 11x, while the share price investors can buy at today is just 10.7x earnings, imputing a better value for the shares than the world’s most renowned value investor paid.
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