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 February 15, 2017 - 12:45 PM EST
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Buffett's Apple stock purchase gains $1.1B in six weeks
Buffett's Apple stock purchase gains $1.1B in six weeks

OMAHA, Feb. 15 (UPI) --

Apple Inc. stock recently purchased by Berkshire Hathaway Inc., Warren Buffett's holding company, increased in value by $1.1 billion in six weeks, a required filing says.

The Omaha-based company owned 15.23 million Apple shares on Sept. 30, but increased its stake in the fourth quarter of 2016 to 57.36 million shares as of Dec. 31, a quarterly filing released Wednesday said.

Apple stock rose 2.5 percent in the fourth quarter and 15.6 percent since the start of the year, closing Tuesday at over $135 per share, a record high for the second consecutive day. It means the new shares improved by $1.1 billion, and Berkshire Hathaway's total investment in Apple is now valued at $7.7 billion.

The report added that Berkshire Hathaway reduced its investment in John Deere & Co., Walmart Stores Inc., Kinder Morgan Inc. and Verizon Communications Inc.in the fourth quarter. It bought additional shares of Monsanto Co., Sirius XM Holdings Inc., Southwest Airlines Co., American Airlines Group Inc. and Delta Air Lines Inc.

The total value of the company's equity holdings increased 15 percent to $147.99 billion in the fourth quarter. Berkshire stock is up 2.4 percent in 2017.


Source: United Press International (February 15, 2017 - 12:45 PM EST)

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