Buffet dumps IBM and buys Teva in new focus on healthcare

Buffet dumps IBM and buys Teva in new focus on healthcare

Last year, Buffett told CNBC that he was more sure about Apple's future than IBM's, and he has continued to put his money where his mouth is (even if he still carries a flip phone). The "Oracle of Omaha" has made his fortunes through long-term value investing and possesses a track record that speaks for itself.

At the end of trading on Wednesday, the 165.3 million shares are worth about $27.7 billion. Rockefeller Financial Serv Inc holds 2.08% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 1.98 million shares. With about 1.9 percent of Teva's US -traded shares, Berkshire became the tenth-biggest shareholder in the world's largest manufacturer of generic medicines.

Berkshire also increased its Monsanto investment by 31% and now owns 11.7 million shares.

The company added 2 million shares to its S. Bancorp stake and another 10.6 million shares to its Bank of New York Mellon investment.

Teva Pharmaceutical declined to comment on Cramer's remarks.

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Well, IBM rallied a bit during the fourth quarter of 2017, and apparently that was enough to send Berkshire heading for the exits. 9,245 are owned by Systematic Fin Management L P. 1.03 million were accumulated by Shell Asset Mngmt. During the quarter, Berkshire unloaded 94% of its remaining IBM stake, and now owns just 0.2% of Big Blue worth $314 million.

Buffet's company Berkshire Hathaway has sold nearly all its IBM stock over the past three months, amounting to 35 million shares. Last May, the billionaire investor said he had liquidated almost one third of his stake in IBM. In a research note issued this morning, the analyst reiterated a Buy rating on TEVA stock, with a price target of $23.00.

At that time, Buffett said that he no longer valued IBM in the same way he did more than six years ago at the time he started purchasing it.

Berkshire Hathaway and Phillips 66 said the repurchase will let Buffett's company reduce its investment below the 10 per cent level that triggers additional regulations. We won't know what he's buying now until mid-May, but many of its investors are probably hoping for more buying, especially after the recent market correction.

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