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    HomeEconomyWarren Buffett's Berkshire Hathaway Buys $4.9 Billion Stake In Alphabet, Reduces Apple...

    Warren Buffett’s Berkshire Hathaway Buys $4.9 Billion Stake In Alphabet, Reduces Apple Holding | Markets News

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    Warren Buffett’s Berkshire Hathaway Inc. purchased 17.9 million shares of Google parent Alphabet Inc. in the third quarter

    Berkshire Hathaway

    Berkshire Hathaway

    Warren Buffett’s Berkshire Hathaway Inc. purchased 17.9 million shares of Google parent Alphabet Inc. in the third quarter, even as it continued trimming its holdings in Bank of America Corp. and Apple Inc., according to a recent regulatory filing.

    The disclosure comes ahead of Buffett’s upcoming exit as chief executive officer, marking the end of his nearly 60-year leadership.

    In a filing with the US Securities and Exchange Commission on Friday, Berkshire reported owning 17.85 million Alphabet shares as of September 30 — a stake valued at about $4.9 billion based on Friday’s closing price.

    At the same time, Berkshire further reduced its holding in Apple, cutting its position to 238.2 million shares from 280 million during the quarter. The conglomerate has now sold nearly three-quarters of the more than 900 million Apple shares it once owned. Still, Apple remains Berkshire’s largest equity investment, valued at $60.7 billion, according to Reuters. The iPhone maker continues to account for nearly a quarter of Berkshire’s overall stock portfolio.

    Berkshire also sold 37.2 million shares of Bank of America, leaving it with a 7.7% stake in the lender, which remains its third-largest equity holding. In addition, the conglomerate fully exited its investment in US homebuilder D.R. Horton Inc.

    Buffett, 95, who will step down as CEO at year-end, has been actively seeking opportunities to deploy Berkshire’s record $382 billion cash reserve.

    Recently, the Omaha-based conglomerate agreed to acquire Occidental Petroleum Corp.’s petrochemical unit for $9.7 billion and also bought a $1.6 billion stake in UnitedHealth Group Inc.

    Aparna Deb

    Aparna Deb

    Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

    Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

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