Atlanta Braves Holdings Stock (NASDAQ: BATRK)

Atlanta Braves Holdings Stock (NASDAQ:BATRK), Trade Ideas

Atlanta Braves Holdings

Liberty Braves Group

Atlanta Braves Holdings Inc is a holding company. It operates through its wholly-owned subsidiary, which is the owner and operator of the Atlanta Braves Major League Baseball Club and the mixed-use real estate development, The Battery Atlanta, and is the operator of the Atlanta Braves Major League Baseball Club's stadium, Truist Park. The company predominantly derives revenue related to the Braves baseball franchise and Truist Park from ticket sales, concessions, local broadcasting rights, advertising sponsorships, suites and premium seat fees, retail and licensing revenue, shared MLB revenue streams, including national broadcasting rights and licensing, and other sources. The company's reportable segments include, baseball which generates key revenue, and mixed-use development.

Atlanta,,Ga,--,March,26,,2020:,Entrance,To,The,Battery

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The Atlanta Braves are one of the top betting favorites and a favorite from writers to win the 2024 World Series. Could the public sports team be undervalued?

Atlanta Braves Stock Could Be Undervalued Based On MLB Team Valuations, Did Warren Buffett Spot Another Value Stock?

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U.S. stock futures were mixed this morning, with the Dow futures falling around 50 points on Monday.

Philips Reports Q4 Results, Joins Ryanair And Other Big Stocks Moving Lower In Monday&#39;s Pre-Market Session

warren buffett baseball shutter

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Atlanta Braves Holdings, Inc. - Series C Common Stock

Atlanta Braves Holdings Inc

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MSFT

Microsoft Sees FY2025 Total Revenue Expected To Grow Double-digits; FY25 Capital Expenditures To Be Higher Than FY24;
FY25 Operating Margins Expected To Be Down ~1 Point -Conf Call

Grupo Televisa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TV#NYSE">TV</a>) reported quarterly earnings of $0.10 per share which beat the analyst consensus estimate of $(0.04) by 350 percent. This is a 242.86 percent increase over losses of $(0.07) per share from the same period last year. The company reported quarterly sales of $939.70 million which missed the analyst consensus estimate of $993.28 million by 5.39 percent. This is a 5.27 percent decrease over sales of $992.02 million the same period last year.

Earnings

Grupo Televisa Q1 EPS $0.10 Beats $(0.04) Estimate, Sales $939.70M Miss $993.28M Estimate

Australian multinational miner&nbsp;<a href="https://www.benzinga.com/quote/BHP">BHP Group</a>'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) nearly $40 billion bid for rival Anglo American (OTC:&nbsp;NGLOY) may not be enough to acquire the company as other diversified miners will probably make rival bids amid the global scramble for copper assets.
After completing a $6.4 billion takeover of Australian copper producer&nbsp;OZ Minerals&nbsp;last year, BHP is doubling down on the red metal amid widespread expectations that demand will greatly increase in coming years as the global economy transitions from fossil fuels. 
Solar and wind farms and electric vehicles require more copper than traditional utilities and internal combustion engine automobiles.
"This is the latest move to consolidate in industrial metals driven by a scramble for copper and other metals central to the world&#8217;s clean energy movement,"&nbsp;Sean Casterline, founder of the investment consulting firm&nbsp;Delta Capital Management, told Benzinga.
BHP, already the world's biggest mining company, is currently the third-largest copper producer behind Chile's state-run&nbsp;Codelco&nbsp;and U.S.-based heavyweight&nbsp;Freeport-McMoRan Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>). A combination with Anglo American would push BHP to the pole position.&nbsp;&nbsp;
"In our view, the copper assets are the primary driver of a proposed transaction,"&nbsp;RBC Capital Markets analysts said.&nbsp;
<h1 class="wp-block-heading">Rival Bids Seem Likely</h1>
BHP said it offered 25.08 pounds ($32.27) a share for London-based Anglo American, which said it is reviewing the proposal. The all-share deal values Anglo American at GBP 31.1 billion ($38.9 billion) and is contingent on the U.K. company spinning off its shareholdings in Anglo American Platinum Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANGPY#OTC">ANGPY</a>) and Kumba Iron Ore Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KIROY#OTC">KIROY</a>), which are both listed in South Africa.
The proposal represents a nearly 14% premium for Anglo American's London-listed shares and a 31% premium without the platinum and iron ore units.
Analysts said that probably isn't enough.
Also Read: <a href="https://www.benzinga.com/markets/asia/24/04/38090219/will-copper-reach-10-000-an-essential-metal-that-faces-an-uncertain-future">Will Copper Reach $10,000? &#8216;An Essential Metal That Faces An Uncertain Future&#8217;</a>
Anglo American's shares have been so beaten down recently that its board and shareholders probably see BHP's bid as undervaluing the company, including copper assets in Chile and Peru, where BHP also has copper operations. Anglo American's shares have been suffering because of operational problems, a disappointing production outlook and a slump in diamond and platinum-group markets.
BHP's offer is "a timid and somewhat convoluted bid" that "won't be enough to draw either Anglo's board or its key shareholders," Liberum analyst Ben Davis said. After BHP's offer, he raised Anglo's price target to 27.50 pounds ($34.41), a near 25% bump from the stock&#8217;s closing price before the offer was officially made public.
Jefferies analysts went higher, saying a price of at least 28 pounds ($35.04) per share would be required for serious discussions between the companies, and a takeout price north of 30 pounds ($37.54) per share would be the outcome of a bidding war.
"If BHP does indeed continue to pursue this deal, we would be surprised if other bidders do not emerge," the company said. "Let the games begin."
The RBC Capital Markets analysts pegged diversified miner Glencore (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLNCY#OTC">GLNCY</a>) as one logical bidder because of the potential advantages in combining the companies' copper assets. The company also listed Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) as a possibility because of the attractiveness of combining iron ore assets in Brazil. 
Davis pointed to diversified multinational miner&nbsp;Rio Tinto&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) as his top pick for an interloper, although he noted the company has a reputation for preferring to build mines rather than buy them.
<h1 class="wp-block-heading">Gold Miners Expand Copper Holdings</h1>
One reason why copper acquisitions are attractive is that building new copper mines from scratch is expensive and time-consuming.
That's especially true in the U.S., where getting a permit is difficult, or in other jurisdictions such as Panama, where a court ruling recently forced the closure of a huge copper mine after local protests, said&nbsp;Jason Crawshaw, portfolio manager at&nbsp;Polaris Capital, which invests in copper miners&nbsp;Lundin Mining Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LUNMF#OTC">LUNMF</a>) and Antofagasta (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANFGF#OTC">ANFGF</a>).
"There is a scramble for assets," he told Benzinga. "Everybody is always looking to get more exposure to copper."
Even gold miners have been interested in bulking up on copper assets.&nbsp;
Last year, U.S.-based gold mining major&nbsp;Newmont Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) bought Australian gold miner Newcrest Mining Ltd. for nearly $17 billion, adding nearly 50 billion pounds of copper reserves and resources in one fell swoop.
Meanwhile, Canada-headquartered rival&nbsp;Barrick Gold Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) is spending nearly $2 billion to expand a copper mine in Zambia, targeting expanded plant production in 2028.&nbsp;
Investors looking for diverse exposure to copper producers can consider the&nbsp;Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>),&nbsp;Sprott Copper Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPP#NASDAQ">COPP</a>),&nbsp;Sprott Junior Copper Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPJ#NASDAQ">COPJ</a>)&nbsp;and&nbsp;iShares Copper and Metals Mining ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICOP#NASDAQ">ICOP</a>).
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37924793/rising-copper-prices-portfolio-review-make-underperforming-anglo-american-stock-a-p">Rising Copper Prices, Portfolio Review Make Underperforming Anglo American Stock A Potential Bargain: Report (CORRECTED)</a>
Photo: Anglo American copper mine in Chile courtesy of Anglo American Flickr

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Copper Is A Hot Commodity: Bidding War for Anglo American May Emerge After BHP's 'Low Ball' Offer — 'Let The Games Begin'

This dividend, in the amount of&nbsp;$0.46&nbsp;per share, is payable on&nbsp;May 24, 2024&nbsp;to shareholders of record on&nbsp;May 10, 2024. This dividend rate equates to an annualized dividend of&nbsp;$1.84&nbsp;per share.&nbsp;

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CHCT

Community Healthcare Trust Increases Dividend From $0.4575 To $0.46 Per Share

INTC

Intel CEO Said Foundry Business Will See Sequential Improvement In Every Quarter Till 2030- Conf Call

Aptar Currently Expects Q2 EPS, Ex Any Restructuring Expenses, Changes In Fair Value Of Equity Investments And Acquisition Costs, Of $1.30-$1.38, Est $1.36

Marathon Digital Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) shares are moving higher after the bell on Thursday after the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miner announced an <a href="https://www.benzinga.com/pressreleases/24/04/g38445157/marathon-digital-holdings-increases-2024-hash-rate-target-to-50-exahash">increase to its hash rate target</a>.
What Happened: After the market close on Thursday, Marathon Digital said it&#8217;s increasing its hash rate target for fiscal-year 2024 from a previous range of 35 EH/s to 37 EH/s to a new target of 50 EH/s.
The bitcoin mining company began the year with approximately 24.7 EH/s&nbsp;and had been targeting growth of approximately 46% by year&#8217;s end. Marathon said it&#8217;s raising its new target based on current machine orders and available capacity following recent acquisitions.
&#8220;Given the amount of capacity we have available following our recent acquisitions and the amount of hash rate we have access to through current machine orders and options, we now believe it is possible for us to double the scale of Marathon&#8217;s mining operations in 2024 and achieve 50 exahash by the end of the year,&#8221; said Fred Thiel, chairman and CEO of Marathon Digital.
&#8220;With our current liquidity position, this growth target is also fully funded and there is no need for us to raise additional capital to achieve our objective.&#8221;
Marathon noted that it will provide further information on its new hash rate target when it reports earnings on May 9. Analysts expect the company to report earnings of 22 cents per share on revenue of $180.69 million, according to estimates from<a href="http://pro.benzinga.com"> Benzinga Pro</a>.
Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38442912/bitcoins-consolidation-phase-best-met-with-zoom-out-perspective-patience-approach-says-tra">Bitcoin&#8217;s Consolidation Phase Best Met With &#8216;Zoom Out, Perspective, Patience&#8217; Approach, Says Trader</a>
MARA Price Action: <a href="https://www.benzinga.com/quote/MARA">Marathon Digital shares</a> were up 5.15% after hours at $19.98 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Why Bitcoin Mining Stock Marathon Digital Is Moving Higher After Hours

CORRECTION: L3Harris Technologies Sees FY24 Adj. EPS $12.70-$13.05 Vs $12.71 Estimate, $12.40-$12.80 Prior

AptarGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATR#NYSE">ATR</a>) reported quarterly earnings of $1.26 per share which beat the analyst consensus estimate of $1.15 by 9.57 percent. This is a 31.25 percent increase over earnings of $0.96 per share from the same period last year. The company reported quarterly sales of $915.448 million which beat the analyst consensus estimate of $890.329 million by 2.82 percent. This is a 6.44 percent increase over sales of $860.067 million the same period last year.

Earnings Beats

AptarGroup Q1 2024 Adj EPS $1.26 Beats $1.15 Estimate, Sales $915.448M Beat $890.329M Estimate

NVDA

Microsoft CEO Said More Than 65% Of Fortune 500 Companies Use Azure OpenAI Service;  Sees Acceleration In  Number Of Large Azure Deals -Conf Call

Tenaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TS#NYSE">TS</a>) reported quarterly earnings of $1.27 per share which beat the analyst consensus estimate of $0.95 by 33.68 percent. This is a 33.51 percent decrease over earnings of $1.91 per share from the same period last year. The company reported quarterly sales of $3.442 billion which beat the analyst consensus estimate of $3.375 billion by 1.97 percent. This is a 16.88 percent decrease over sales of $4.141 billion the same period last year.

Tenaris Q1 2024 GAAP EPS $1.27 Beats $0.95 Estimate, Sales $3.442B Beat $3.375B Estimate

USCB Financial Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USCB#NASDAQ">USCB</a>) reported quarterly earnings of $0.23 per share which beat the analyst consensus estimate of $0.21 by 9.52 percent. This is a 20.69 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $17.622 million which beat the analyst consensus estimate of $17.175 million by 2.60 percent. This is a 2.46 percent decrease over sales of $18.067 million the same period last year.

USCB

USCB Financial Holdings Q1 2024 Adj EPS $0.23 Beats $0.21 Estimate, Sales $17.622M Beat $17.175M Estimate

GXO Logistics Reports Pricing Of $1.1B Notes Offering

Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares are trading higher in Thursday&#8217;s after-hours session following a pair of blowout quarters from mega-cap peers Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).</a>
<h2 class="wp-block-heading">What Happened With Microsoft?</h2>
Microsoft beat analyst estimates on the top and bottom lines when it reported earnings after the bell on Thursday. The company said third-quarter revenue increased 17% year-over-year to $61.9 billion, versus estimates of $60.804 billion. Microsoft reported quarterly earnings of $2.94 per share, versus estimates of $2.82 per share. Shares were up more than 4% at last check.
&#8220;Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry," said Satya Nadella, chairman and CEO of Microsoft.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">Microsoft Q3 Earnings: Revenue Beat, EPS Beat, &#8216;New Era Of AI Transformation&#8217; And More</a>
<h2 class="wp-block-heading">What Happened With Alphabet?</h2>
Google parent Alphabet said its first-quarter revenue increased 15% year-over-year to $80.539 billion, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a> of $78.594 billion. The company reported quarterly earnings of $1.89 per share, beating analyst estimates of $1.51 per share.
&#8220;Our results in the first quarter reflect strong performance from Search, YouTube and Cloud. We are well under way with our Gemini era and there&#8217;s great momentum across the company. Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation,&#8221; said Sundar Pichai, CEO of Alphabet.
Alphabet&#8217;s board also authorized an additional share repurchase program of up to $70 billion and announced its first-ever quarterly dividend of 20 cents per share. Alphabet shares were up approximately 13.5% at the time of writing.
Don&#8217;t Miss: <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Alphabet Q1 Earnings: Revenue Beat, EPS Beat, $70B Buyback, First-Ever Dividend, AI Leadership And More</a>
<h2 class="wp-block-heading">What To Expect From Amazon</h2>
Amazon shares faced selling pressure throughout the day on Thursday after Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares <a href="https://www.benzinga.com/news/earnings/24/04/38430266/meta-platforms-stock-is-tumbling-thursday-whats-going-on">sold off on earnings</a>. Weakness spread to several other mega-cap tech stocks as fears over earnings mounted. Amazon stock is bouncing back after hours after Microsoft and Alphabet eased investor concerns.
Amazon is scheduled to report its <a href="https://www.benzinga.com/calendars/earnings">first-quarter financial results</a> after the market close on April 30. The company is expected to report earnings of 83 cents per share on revenue of $142.495 billion, according to estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>.
AMZN Price Action: Amazon shares closed Thursday&#8217;s regular session down 1.65%. The stock was up 3.07% after hours at $178.98 at the time of publication, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

AMZN

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Amazon Stock Is Rising Thursday: What's Going On?

Western Digital Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)&nbsp;reported third-quarter financial results after the bell on Thursday. Here's a&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38443501/western-digital-reports-fiscal-third-quarter-2024-financial-results" rel="noreferrer noopener">look at the highlights</a>.
Western Digital reported earnings of 63 cents per share, which is&nbsp;not comparable to the consensus of 20 cents. It clocked quarterly sales of $3.46 billion, beating the $3.36 billion analyst&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate</a>.&nbsp;
Cloud revenue of $1.55 billion represented 45% of total revenue, with its growth primarily attributed to higher nearline shipments and improved nearline per unit pricing&nbsp;with flash&nbsp;revenue up both sequentially and&nbsp;year-over-year.&nbsp;
Client revenue of $1.17 billion represented 34% of total revenue. Sequentially, the increase in flash ASP&nbsp;more than&nbsp;offset a decline in flash bit shipments while HDD revenue decreased. The year-over-year increase&nbsp;was driven&nbsp;by growth in both flash and HDD ASPs and flash bit shipments.
Consumer revenue of $730 million represented 21% of total revenue.&nbsp;Sequentially,&nbsp;both flash and HDD were down at approximately similar rates and in line with seasonality.&nbsp;The year-over-year increase&nbsp;was driven&nbsp;by growth in flash bit shipments and ASP.
"As evidenced by our excellent third quarter results, Western Digital continues improving through-cycle profitability and dampening business cycles by leveraging our strategy of developing a diversified portfolio of industry-leading products across a broad range of end markets," said&nbsp;David Goeckeler, Western Digital CEO.&nbsp;
Outlook:&nbsp;Western Digital expects fourth-quarter earnings between 90 cents and $1.20 per share versus the 84 cents estimate. It forecasts fourth-quarter revenue of $3.6 billion to $3.8 billion versus the $3.69 billion estimate.&nbsp;
"We are in the early innings of unlocking the full potential of this company, and as industry supply and demand dynamics continue to improve, we will remain disciplined around our capital spending and focused on driving innovation and efficiency across our businesses," said Goeckeler.&nbsp;
Related News:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38441140/s-p-global-reports-q1-results-raises-revenue-guidance" rel="noreferrer noopener">S&amp;P Global Reports Q1 Results, Raises Revenue Guidance</a>
WDC Price Action:&nbsp;According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, Western Digital shares are down 1.07% after-hours at $68.70 at the time of publication Thursday.
Photo via Wikimedia Commons

After-Hours Center

Tech

Western Digital Q3 Earnings: Revenue Beat, Higher ASP, Upbeat Q4 Guidance And More

Customers Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>) reported quarterly earnings of $1.42 per share which missed the analyst consensus estimate of $1.63 by 12.88 percent. This is a 10.13 percent decrease over earnings of $1.58 per share from the same period last year. The company reported quarterly sales of $160.385 million which missed the analyst consensus estimate of $167.861 million by 4.45 percent. This is a 7.00 percent increase over sales of $149.899 million the same period last year.

Earnings Misses

CUBI

Customers Bancorp Q1 2024 Adj EPS $1.42 Misses $1.63 Estimate, Sales $160.385M Miss $167.861M Estimate

Intel Exec Said Foundry Services Signed Aerospace And Defense Industry Customer Who Was Not Named- Conf Call

Federated Hermes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHI#NYSE">FHI</a>) reported quarterly earnings of $0.89 per share which beat the analyst consensus estimate of $0.84 by 5.95 percent. This is a 14.1 percent increase over earnings of $0.78 per share from the same period last year. The company reported quarterly sales of $396.371 million which missed the analyst consensus estimate of $401.259 million by 1.22 percent. This is a 3.71 percent increase over sales of $382.189 million the same period last year.

Federated Hermes Q1 2024 GAAP EPS $0.89 Beats $0.84 Estimate, Sales $396.371M Miss $401.259M Estimate

The company reaffirmed its revenue, net income, Adjusted EBITDA, net cash provided by operating activities, and Adjusted Free Cash Flow ranges for fiscal year 2024.&nbsp;

CWST

Casella Waste Systems Reaffirms FY24 Outlook, With Revenues Of $1.48B-$1.51B, Est $1.498B

First of Long Island (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLIC#NASDAQ">FLIC</a>) reported quarterly earnings of $0.20 per share which missed the analyst consensus estimate of $0.23 by 13.04 percent. This is a 31.03 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $20.935 million which missed the analyst consensus estimate of $22.084 million by 5.20 percent. This is a 7.56 percent decrease over sales of $22.647 million the same period last year.

FLIC

First of Long Island Q1 2024 GAAP EPS $0.20 Misses $0.23 Estimate, Sales $20.935M Miss $22.084M Estimate

Atlanta Braves Holdings Inc Series C (BATRK) stock is up 0.49% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator. Atlanta Braves Holdings Inc Series C has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on BATRK!See Full BATRK ReportWhat i

Is Atlanta Braves Holdings Inc Series C (BATRK) a Stock to Watch After Gaining 0.49% This Week?

Tracking Warren Buffett's Berkshire Hathaway Portfolio - Q3 2023 Update

Warning: BATRK is at high risk of performing badly

Atlanta Braves Holdings: This Unique Asset Is A Potential Home Run

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Warren Buffett wrote an op-ed for&nbsp;The New York Times&nbsp;during the financial markets collapse in 2008 titled, &ldquo;<a target="_blank" href="https://www.nytimes.com/2008/10/17/opinion/17buffett.html">Buy American. I Am.</a>&rdquo; At the time, the housing market was in free fall, Lehman Brothers had just imploded, and the stock market tumbled 20% on its way to losing more than half its value before hitting bottom. Buffett&rsquo;s column was a clarion call to be bullish about the future.



Buying stocks is an outward expression of optimism. You&rsquo;re buying something today, believing it will grow into something more wonderful later on. It&rsquo;s very much like the old saying, &ldquo;A society grows great when old men plant trees under whose shade they know they&rsquo;ll never sit.&rdquo; Of course, in investing, we hope to enjoy the fruit of our labor one day. Buffett knows this like no one else.



Yet, as optimistic as Buffett is, sometimes he can turn bearish. He may be in such a mood today. Even though he&nbsp;<a href="https://investorplace.com/2023/11/the-shocking-stock-that-warren-buffet-just-bought-and-2-he-sold/" target="_blank">bought several new stocks</a>&nbsp;for&nbsp;Berkshire Hathaway&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/brk-a-stock-quote/" target="_blank">BRK-A</a>, NYSE:<a href="https://investorplace.com/stock-quotes/brk-b-stock-quote/" target="_blank">BRK-B</a>) in the third quarter, like&nbsp;Atlanta Braves Holdings&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/batrk-stock-quote/" target="_blank">BATRK</a>) and&nbsp;Sirius XM Holdings&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/siri-stock-quote/" target="_blank">SIRI</a>), Buffett was a net seller of stocks.



In fact, this is the fourth consecutive quarter where Buffett sold billions of dollars more stock than he bought. In doing so, Berkshire Hathaway amassed a record $157 billion cash position. It suggests he&rsquo;s keeping a lot of powder dry for a day when stocks crash, and he can swoop in to buy them up. What follows are the seven Warren Buffett stocks he completely sold off in the third quarter.



<h2>General Motors (GM)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/gm-stock-3-300x169.jpg" alt="GM stock"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>


Buffett bought&nbsp;General Motors&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>) over a decade ago amid a&nbsp;<a target="_blank" href="https://www.mlive.com/auto/2012/05/warren_buffetts_berkshire_buys.html">recovering U.S. economy and auto industry</a>. The carmaker had numerous joint ventures underway in China, which had become its largest market. But Buffett was souring on GM in recent periods. In the second quarter, he slashed his holdings in the carmaker by 45%, and in the third quarter, he finally got rid of the remaining 22 million shares Berkshire Hathaway held.



It could be Buffett didn&rsquo;t like the additional costs GM would be saddled with due to the contract settled with the United Auto Workers union. The UAW sprung a new strategy this year by striking against all the automakers simultaneously. The industry ground to a halt. It is a tactic other unions may adopt going forward, but it will&nbsp;<a target="_blank" href="https://www.cnbc.com/2023/11/29/gm-labor-deals-with-uaw-unifor-cost.html#:~:text=General%20Motors%20expects%20new%20labor,to%20expire%20in%20April%202028.">significantly impair GM&rsquo;s profitability</a>. Labor costs will grow by $9.3 billion over the contract term that expires in April 2028 while inflating the cost of a new car by $575 each. Buffett simply no longer saw GM as an attractive investment.



<h2>Celanese (CE)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/ce_celanese_1600-300x169.png" alt="Cellphone with logo of US chemicals company Celanese Corporation (CE) on screen in front of business website Focus on center-left of phone display"><div>Source: Wirestock Creators / Shutterstock.com</div></div>


Buffett also soured early on global chemicals specialist&nbsp;Celanese&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/cryptocurrency/ce/">CE</a>). He established the position in the first quarter of 2022 and then built it up over the year. He began shedding shares in this year&rsquo;s first quarter. It&rsquo;s a move that goes against the Oracle of Omaha&rsquo;s typical buy-and-hold philosophy.



Certainly, Celanese looked to be a traditional Buffett stock. It&rsquo;s a leader in its space and doesn&rsquo;t have many competitors. It is profitable, produces substantial free cash flow, and pays a dividend yielding 2% annually. It&rsquo;s not a growth company, however, and since the beginning of 2022, the chemicals stock has lost 16% of its value. It was trading at a discount when Buffett bought it, and it&rsquo;s more so now, though shares are up 25% over the past month.



One of Buffett&rsquo;s two investing lieutenants, Todd Combs and Ted Weschler, may have bought this stock. Although Buffett previously said any stock purchases over $1 billion would be his (the original CE purchase was for $1.1 billion), he has relinquished more control since then. The trade managers may have tired of the time a turnaround was taking.



<h2>Activision Blizzard (ATVI)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/activision-stock-3-300x169.jpg" alt='Activision Blizzard (ATVI logo on an iPhone with "buy" and "sell" buttons underneath'><div>Source: NPS_87 / Shutterstock.com</div></div>


Buffett bought video game maker&nbsp;Activision Blizzard&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/atvi-stock-quote/" target="_blank">ATVI</a>) as an arbitrage play.&nbsp;Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/" target="_blank">MSFT</a>) was solidifying its position in the gaming market with the acquisition of Activision. Buffett held a small stake in the gamer but bumped it up to almost 10% after announcing the deal.



As the merger negotiations with regulators dragged on, Buffett started selling. In the second quarter, he dumped almost all of the shares he had bought for the arbitrage. Perhaps he believed the deal wouldn&rsquo;t pass muster with U.K. and European regulators. But Microsoft surprised the market by agreeing to&nbsp;<a href="https://investorplace.com/2023/09/3-popular-stocks-that-the-smart-money-is-dumping-in-droves/" target="_blank">sell all the online streaming rights</a>&nbsp;for all of Activision&rsquo;s existing PC and console games released over the next 15 years to the U.K.&rsquo;s&nbsp;Ubisoft Entertainment (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ubsfy-stock-quote/" target="_blank">UBSFY</a>). The deal made it over the regulatory hurdles and was completed in mid-October. Buffett finally closed out his position.



<h2>Mondelez International (MDLZ)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/mdlz1600-300x169.jpg" alt="The Mondelez website magnified by a magnifying glass"><div>Source: Shutterstock</div></div>


There was a time some 15 years ago when snacks giant&nbsp;Mondelez International&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/mdlz-stock-quote/" target="_blank">MDLZ</a>) was one of the most significant positions in Berkshire Hathaway. Buffett owned 132 million shares, representing a better than 9% stake in the portfolio. Mondelez, however, was known as Kraft Foods at the time. Buffett was&nbsp;<a href="https://www.cnbc.com/2008/02/15/buffetts-berkshire-hathaway-reveals-86-stake-in-kraft-foods.html" target="_blank">betting on activist investor Nelson</a>&nbsp;Peltz, forcing the company to spin off its businesses to buy back stock.



Mondelez and Kraft were subsequently separated, and Buffett helped private equity firm&nbsp;3G Capital <a href="https://investorplace.com/2023/10/buffetts-bullish-bets-3-stocks-where-warren-has-at-least-a-25-stake/" target="_blank">engineer a merger</a>&nbsp;between Kraft and H.J. Heinz to form today&rsquo;s&nbsp;Kraft Heinz&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/khc-stock-quote/" target="_blank">KHC</a>). Berkshire still has a substantial 325 million-share position in the company.



However, the Mondelez position languished. By 2013, Buffett had whittled the stake down to just 578,000 shares, and that&rsquo;s where it stayed for the next decade. Ironically, the snacks company has outperformed the packaged food business. Since the spinoff in 2012, Mondelez has a total return of 215% compared to a 12% return by Kraft.



<h2>United Parcel Service (UPS)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/ups1600-300x169.jpg" alt="Close up of UPS logo printed on a delivery truck; partial view of the driver sitting at the wheel, waiting at a red traffic light in south San Francisco bay"><div>Source: Sundry Photography / Shutterstock.com</div></div>


Package delivery leader&nbsp;United Parcel Service&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/ups-stock-quote/">UPS</a>) is another long-standing stock Buffett got rid of, albeit another small one. He owned only 59,400 shares worth $10 million. That&nbsp;<a target="_blank" href="https://investorplace.com/2023/11/wall-street-predicts-these-3-warren-buffett-stocks-will-soar-88-to-242/">made it the smallest holding</a>&nbsp;in Berkshire Hathaway. It was never a large position, though. At its peak, there were about 1.4 million shares.



It means that whether Buffett continued to hold onto the stock or sell it off, it was an inconsequential stake. Tidying up the portfolio to put money aside for bigger and better purchases may have been the motivating factor here. The position wouldn&rsquo;t have an impact even if it rocketed higher, and if Buffett is feeling bearish about the economy, the delivery company would feel the effects more.



Interestingly, it&rsquo;s another stock that that&rsquo;s has taken off over the past month. It&rsquo;s up 10% compared to a 6% gain by the&nbsp;S&amp;P 500.



<h2>Procter &amp; Gamble (PG)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/pg-stock-300x169.jpg" alt=""><div>Source: Jonathan Weiss / Shutterstock.com</div></div>


After&nbsp;<a href="https://investorplace.com/2023/10/3-stocks-warren-buffett-refuses-to-let-go-of/" target="_blank">refusing to sell</a>&nbsp;for over two decades,&nbsp;Procter &amp; Gamble&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/pg-stock-quote/" target="_blank">PG</a>) is the third small position Buffett finally decided to shed. Like his ownership of Mondelez, how Buffett came to own the consumer products company is a bit convoluted.



He acquired it by owning shares of Gillette&rsquo;s razor company. It was eventually bought out by P&amp;G, giving Buffett shares in the new business. He went on to buy more Procter &amp; Gamble shares on his own but nearly sold them all off during the financial markets crisis to help bail out&nbsp;Goldman Sachs&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/gs-stock-quote/">GS</a>) and others.



The small stake he just got rid of (315,000 shares) is the remnants of that deal. The position was worth about $48 million, a small change in a $363 billion portfolio. It&rsquo;s worth noting that as small as the position is, it was still bigger than some he just bought. The Atlanta Braves holding, for example, is worth just $8 million.



<h2>Johnson &amp; Johnson (JNJ)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/jnj1600b-300x169.jpg" alt="jnj healthcare stocks"><div>Source: Raihana Asral / Shutterstock.com</div></div>


Last on the cleaning house list, but certainly not least, is healthcare titan&nbsp;Johnson &amp; Johnson&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/jnj-stock-quote/">JNJ</a>). Buffett shed all 327,100 shares, which were worth about $57 million. The fact that he held the stock almost as long as he owned Procter &amp; Gamble probably also made it time for it to go.



The company is facing substantial legal liability from the lawsuits launched against its baby powder. It purportedly carries elevated cancer risk despite long-standing claims by the Food &amp; Drug Administration that such&nbsp;<a target="_blank" href="https://www.fda.gov/cosmetics/cosmetic-ingredients/talc">formulations are perfectly safe</a>. But why hold onto a potential headache that can drag on for years when better opportunities exist?



Well, one could have been Johnson &amp; Johnson&rsquo;s dividend. The blue-chip stock has been in business for 130 years and is a&nbsp;<a href="https://investorplace.com/2023/09/dont-miss-out-3-dividend-stocks-to-buy-on-every-single-dip/" target="_blank">Dividend King</a>, having raised its payout for over 60 years. It yields 2.9% annually. The healthcare stock is another one that got a lift after Buffett sold out, as its stock is up 6.5% over the past month.



On the date of publication, Rich Duprey held a LONG position in JNJ and PG stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</div><h3>More From InvestorPlace</h3>
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