Billionaire investment guru, Warren Buffett has announced selling of stakes in Johnson & Johnson and GE this past week. Berkshire Hathaway, a firm controlled by Warren Buffet, is reported to have sold most of its stakes in the 2 Dow components.
The 13-F filling the Berkshire Hathaway has submitted to the SEC, states that the company had 469,000 shares in Johnson & Johnson as of September 30. This is a 95 percent decrease from the holdings that Berkshire Hathaway had in June.
The stock that billionaire Warren Buffett has reduced the stakes in GE by nearly half as well. The stakes that Berkshire now holds are now a mere 588-thousand shares. Now the holdings in GE are worth $12 million, which is down from the nearly $90 million Berkley held in GE.
Warren Buffett also eliminated his stakes in 3 other companies, where Berkshire’s holdings were relatively small. The holdings that were dropped consisted of CVS, Dollar General and Ingersoll-Rand.
The 13-F filing has also shown that Berkshire has also picked up major holdings in Deere & Co, Precision Castparts and Wabco Holdings. The company that billionaire Warren Buffett owns, has also picked up holdings in several other “blue chip” stocks such as DirectTV and IBM.
The 13-F filling may indicate trends to come from this holdings giant. It is an interesting move by Warren and his company. This may be a sign of trend to come. Other holdings that have been picked up by Buffett include: Wells Fargo, Bank of New York Mellon and General Motors, which Buffet now owns half of the stakes in the company.
There are also smaller stakes that have been sold by Berkshire Hathaway. These smaller holdings include: United Parcel Service, Lee Enterprises, Verisk Analytics and Procter & Gamble. These stakes are not all that small, as Berkshire also let go of its 77 percent in United Parcel service as well.
Berkshire has also gained 400 million shares in the Coca Cola Company. This is not from buying the stakes, but rather a split during that last quarter, which increased the company’s stakes in Coco Cola.