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Buffett sold nearly half of his Hewlett-Packard shares, reducing his stake to 5.2%.

2024-04-25 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com, December 12 (Xinhua)-- Buffett's Berkshire Hathaway has reduced its stake in Hewlett-Packard to 5.2%, a total of 47% in the past two months, according to a regulatory filing filed late Monday local time.

Berkshire had previously sold HP shares for nine consecutive days between mid-September and early October, reducing its stake to about 10 per cent.

Berkshire still holds 51.5 million HP shares, worth about $1.6 billion at Monday's closing price of $30.37 (CTOnews.com Note: currently about 11.488 billion yuan). Berkshire remains HP's third-largest institutional shareholder after BlackRock and Vanguard, according to FactSet.

Berkshire first bought Hewlett-Packard shares in April 2022. However, Berkshire has yet to turn a profit because the stock is still below the level it was at the time of its first purchase. HP shares are up 13 per cent this year, underperforming the Nasdaq composite index (IXIC), which is up nearly 38 per cent.

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