Market Overview

Warren Buffett's Berkshire Hathaway Trims Apple Stake, Buys Into Kroger, Biogen

Warren Buffett's Berkshire Hathaway Trims Apple Stake, Buys Into Kroger, Biogen

Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) trimmed its stake in Apple Inc. (NASDAQ: AAPL) by 37 million shares in the fourth quarter of 2019, according to its 13F filing with the Securities and Exchange Commission revealed Friday.

What Happened

The investment firm led by Warren Buffett is the largest investor in Apple, accounting for about 4.5% of the total stake worth $72 billion, as noted by Business Insider.

The 37 million shares sold over three months between October to December would be worth approximately between $800 million to just above $1 billion based on when they were sold.

Berkshire Hathaway also made new investments in retailer The Kroger Company (NYSE: KR) and biotechnology company Biogen Inc. (NASDAQ: BIIB).

The firm paid $550 million for about 2.4% stake in Kroger and another $192.5 million for about a 0.4% stake in Biogen.

The investment giant also trimmed its stake in Wells Fargo & Co. (NYSE: WFC), Goldman Sachs Group Inc. (NYSE: GS), Bank of America Corporation (NYSE: BAC), and American Airlines Group Inc. (NASDAQ: AAL) among a few others.

Price Action

Here’s how the mentioned companies’ stocks traded on Friday, as markets remained closed for Washington's Birthday on Monday.

Apple's stock closed slightly higher at $324.95 on Friday. American Airlines' shares closed 2.96% lower at $29.20.

Biogen's stock jumped 2.1% higher at $340 in the after-hours session as the news broke, after closing the regular session 0.37% lower at $333.

Kroger jumped 5.8% in the after-hours at $29.88 after closing the regular session 1.4% lower at $28.23.

Photo credit: Public domain photo via Wikimedia.


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