Berkshire Hathaway Inc. said in a filing with the Securities and Exchange Commission that it now owns nearly 121 million HP shares, giving it control of 11.5% of the company.
HP shares rose more than $5 to $40.05 in the first day of trading since the purchases were disclosed. The company is based in Palo Alto, California.
Buffett began the year telling shareholders he was having trouble finding anything at attractive prices to invest Berkshire’s nearly $147 billion pile of cash. Since airing that sentiment in February in his annual letter, Berkshire said it would spend $11.6 billion to acquire the Alleghany insurance conglomerate, and it bought more than $7 billion worth of Occidental Petroleum stock.
This story is from the April 09, 2022 edition of Techlife News.
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This story is from the April 09, 2022 edition of Techlife News.
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