Berkshire Hathaway, led by CEO Warren Buffett, has continued to decrease its stake in HP Inc., the renowned manufacturer of personal computers and printers. Over the past few days, Berkshire Hathaway sold an additional 5.1 million shares valued at approximately $142 million. The average selling price per share was around $25.75.
At present, Berkshire holds 100.9 million shares of HP, with a total value of about $2.6 billion based on the current market price. However, this represents a reduction from its previous holding of approximately 120 million shares. The company has been steadily selling off its HP stock in the past nine trading sessions.
These recent sales indicate that Warren Buffett, the CEO of Berkshire Hathaway, may plan to further decrease the company's stake in HP. Buffett oversees the equity portfolio of Berkshire, which amounts to roughly $350 billion.
It is worth noting that Berkshire Hathaway needs to file with the Securities and Exchange Commission (SEC) within two business days, given its ownership of more than 10% in HP. However, once its stake falls below 99 million shares, the company will no longer be required to make such filings.
In recent years, Berkshire Hathaway has been more active in buying and selling stocks within its equity portfolio. Although the current sale of HP shares may result in a loss for Berkshire, as it purchased the stake at a higher price in the low $30s, their actions indicate a strategic decision.
Ultimately, the reduced stake in HP Inc. suggests that Berkshire Hathaway is reevaluating its portfolio and adapting to market conditions.