Berkshire Hathaway Inc. (BRK.B) Lowered to "Hold" at Vetr Inc

  • Berkshire Hathaway Inc. (BRK.B) Lowered to

Berkshire Hathaway Inc. (BRK.B) Lowered to "Hold" at Vetr Inc

Warren Buffett almost quadrupled his stake in Apple (symbol AAPL, $135.51) during the last three months of 2016, according to the latest 13-F filing with the Securities and Exchange Commission by Buffett's holding company, Berkshire Hathaway BRK.B.

Berkshire also more than tripled its stake in Apple ( AAPL ) to about 57 million shares, which is valued at more than $7 billion, making Berkshire among the top 10 holders. Investors like to look at Berkshire's investments because of Buffett's remarkably successful track record, although the filing doesn't make clear who made all the investments.

Everyone is aware of the aversion that Buffett had for technological stocks. The company's last traded volume of 4.35 million shares as compared to it's an average volume of 3.49 million shares. Zacks Investment Research upgraded shares of Berkshire Hathaway from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a report on Wednesday, October 5th.

The increase in stake in Apple appears to be timed well.

Its Class A shares closed on Tuesday up Dollars 2,078.95 at USD 250,419, a record high closing price and less than 0.2 percentage points below its all-time high on December 14. They now have a United States dollars 281500 price target on the stock.

Most believe the initial investment by Berkshire in Apple was by Weschler or Combs.

"It's quite possible that Warren woke up and began to understand the virtues of Apple that he had been neglecting or, like with Precision Castparts, Todd or Ted had an affinity for Apple that sparked interest from Warren", Russo said. That investment got attention when it was first disclosed past year because Buffett has always been reluctant to invest in technology companies.

Monsanto and Sirius did not immediately respond to requests for comment.

Thomas Russo who is responsible for $11 billion of assets, which includes 12 percent in Berkshire said, "I'm stunned to see the size of that Apple position".