Berkshire buys Teva, bites more Apple, feels IBM blues
14 Feb, 2018
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(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Wednesday said it has taken a new stake in Teva Pharmaceutical Industries Ltd (TEVA.TA), significantly boosted its holdings of Apple Inc (AAPL.O) and has nearly shed a less successful investment in IBM Corp (IBM.N).
In a regulatory filing detailing its U.S.-listed stock holdings as of Dec. 31, Berkshire reported owning about 18.9 million of the American depositary receipts in Teva, one of the world’s largest generic drug makers, worth about $358 million.
Teva’s share price rose more than 10 percent after Berkshire reported its ownership stake.
Berkshire also reported a 23 percent increase since the end of September in its Apple stake, to about 165.3 million shares, and a 94.5 percent decline in its stake in International Business Machines Corp, to 2.05 million shares.
Reporting by Jonathan Stempel in New York; Editing by Leslie Adler
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