Berkshire Hathaway Sells Part of HP Stake Amid Stock Decline

Berkshire Hathaway sold 5.5 million shares of HP stock, its first sale since acquiring a 12% stake
The sale comes amid HP's stock decline and broader market volatility
Berkshire still owns over 120 million HP shares worth over $4 billion
More HP stock sales could come as Berkshire trims positions to raise cash
HP shares fell on the Berkshire sale news, extending their loss this year

barrons.com

Relevant topic timeline:

8/15/2023

Tracking Warren Buffett’s Berkshire Hathaway Portfolio – Q2 2023 Update (NYSE:BRK.A)

Main financial assets discussed in the article: 1. Stocks: The article discusses various stocks held in Berkshire Hathaway's portfolio, including Apple Inc., Bank of America, American Express, Coca-Cola, Chevron, and many others. 2. Warrants: Berkshire Hathaway holds warrants in companies like Occidental Petroleum and Bank of America. 3. Tracking stocks: Berkshire Hathaway holds tracking stocks in companies like Liberty SiriusXM Group and Liberty Media Formula One. Top 3 key points: 1. Berkshire Hathaway's 13F stock portfolio value increased from ~$325B to ~$348B in Q2 2023. 2. Berkshire Hathaway repurchased ~3.92M Class B Equivalent Shares for a total outlay of ~$1.30B in Q2 2023. 3. Berkshire Hathaway made new stakes in companies like D.R. Horton Inc., NVR Inc., and Lennar Corp, while reducing stakes in companies like McKesson Corp, Marsh & McLennan, and Activision Blizzard. Recommended actions: - **Buy**: The article does not explicitly recommend any buy actions. - **Sell**: The article mentions stake disposals in McKesson Corp, Marsh & McLennan, and Activision Blizzard, indicating a possible sell action. - **Hold**: The article mentions that Berkshire Hathaway has held large stakes in American Express and Coca-Cola "permanently," suggesting a hold action for these stocks. The article also mentions that Berkshire Hathaway's cost-basis on General Motors is ~$31, while the stock currently trades at ~$34, indicating a hold action.

8/29/2023

Stocks making the biggest moves after hours: HP, Box, Ambarella and more

HP's stock dropped 5.6% after posting lower-than-expected revenue for the fiscal third quarter, while PVH's stock climbed 2.6% on strong financial results and an improved outlook.

8/29/2023

HP’s stock tumbles after mixed results, cautious outlook

HP Inc.'s stock dropped 10.7% in after-hours trading following mixed financial results and a cautious outlook, with CEO Enrique Lores noting that the external environment has not improved as expected and PC pricing has been a challenge, but the availability of AI products in late 2024 is expected to boost sales.

8/30/2023

HP Inc. Stock Falls. Why Short-Term Pain Could Mean Long-Term Gains.

Shares of HP Inc., the maker of personal computers and printers, are falling as the company cuts its earnings outlook, but this short-term pain could lead to long-term gains.

8/30/2023

Stocks making the biggest moves midday: HP, Box, Brown-Forman, Insulet and more

Shares of HP dropped 7% after the company reported a fiscal third-quarter revenue miss, with quarterly revenue of $13.20 billion falling short of estimates.

9/6/2023

LSEG investors Thomson Reuters, Blackstone to sell $2.9 bln shares in bourse operator

Investors, including Blackstone and Thomson Reuters, are selling approximately 28.3 million shares worth £2.3 billion in the London Stock Exchange Group, as part of their plan to offload their stake in the company.

9/12/2023

Warren Buffett's Berkshire Hathaway Hits $800 Billion Value as Apple Stake Powers Record Highs

Warren Buffett's Berkshire Hathaway saw its stocks reach all-time highs, increasing the investment conglomerate's market value to almost $800 billion and marking a gain of over 4,300,000% in Berkshire's original Class A shares since Buffett became CEO in 1965.

10/3/2023

HP Stock Upgraded to Buy on Improving PC Outlook

HP Inc. stock receives a double upgrade due to an improving PC market.

Topics

Posted 9/14/2023, 1:36:00 PM

Berkshire Hathaway Sells Part of HP Stake Amid Stock Decline

Berkshire Hathaway sold 5.5 million shares of HP stock, its first sale since acquiring a 12% stake
The sale comes amid HP's stock decline and broader market volatility
Berkshire still owns over 120 million HP shares worth over $4 billion
More HP stock sales could come as Berkshire trims positions to raise cash
HP shares fell on the Berkshire sale news, extending their loss this year

barrons.com

Relevant topic timeline:

8/15/2023

Tracking Warren Buffett’s Berkshire Hathaway Portfolio – Q2 2023 Update (NYSE:BRK.A)

8/29/2023

Stocks making the biggest moves after hours: HP, Box, Ambarella and more

HP's stock dropped 5.6% after posting lower-than-expected revenue for the fiscal third quarter, while PVH's stock climbed 2.6% on strong financial results and an improved outlook.

8/29/2023

HP’s stock tumbles after mixed results, cautious outlook

8/30/2023

HP Inc. Stock Falls. Why Short-Term Pain Could Mean Long-Term Gains.

Shares of HP Inc., the maker of personal computers and printers, are falling as the company cuts its earnings outlook, but this short-term pain could lead to long-term gains.

8/30/2023

Stocks making the biggest moves midday: HP, Box, Brown-Forman, Insulet and more

Shares of HP dropped 7% after the company reported a fiscal third-quarter revenue miss, with quarterly revenue of $13.20 billion falling short of estimates.

9/6/2023

LSEG investors Thomson Reuters, Blackstone to sell $2.9 bln shares in bourse operator

9/12/2023

Warren Buffett's Berkshire Hathaway Hits $800 Billion Value as Apple Stake Powers Record Highs

10/3/2023

HP Stock Upgraded to Buy on Improving PC Outlook

HP Inc. stock receives a double upgrade due to an improving PC market.