According to the latest report, Berkshire Hathaway, run by Warren Buffett, has purchased nearly 121 million shares of personal computer maker Hewlett-Packard (HP), holding a total of about 11.4% of HP’s shares. The shares, worth about $4.2 billion at Wednesday’s closing price of $34.91, spurred HP’s after-hours gains of nearly 10 percent.
According to Berkshire’s filings with the Securities and Exchange Commission (SEC), Berkshire bought HP shares in batches, with the purchase price falling between $34.645 and $36.6775 per share, the most since February 26. The third major investment, and the latest in a series of large investments.
Buffett once lamented that he could not find suitable investment opportunities in the stock market, but he has made frequent shots this year, ending the lack of large-scale investments for several years. For example, since the end of February, Buffett has increased his holdings of Occidental Petroleum for three consecutive weeks. A total of 136.4 million shares, valued at more than $7 billion, accounted for 14.6% of Occidental’s outstanding shares.
Then Buffett’s Berkshire announced on March 21 that it would acquire insurance company Alleghany for $11.6 billion, increasing its portfolio of insurance companies including Geico. This is Buffett’s largest acquisition plan in six years, and promised to be on hand At least $30 billion in cash.