Warren Buffett dumped GE, bought Apple, Mellon and Synchrony

From CNN Money's David Goldman:

Warren Buffett has had enough of GE.

Buffett's investment company, Berkshire Hathaway, dropped its remaining 10.6 million shares of General Electric sometime in the second quarter, according to a regulatory filing. As of June, Buffett's investment had been worth $315 million...

Though Berkshire no longer owns any of GE, Buffett couldn't completely break up with his old investment. Berkshire bought 17.4 million shares of GE spinoff Synchrony Financial during the past quarter. The stake is worth about $518 million.

Berkshire also bought more Apple stock and upped its stake in Bank of New York Mellon. Buffett bought about 167,000 shares of Apple over the past quarter, worth nearly $27 million.

Someday he will sell Apple, too.

3 Comments

  1. Fred Stein said:
    At the end of 2012, Share outstanding was 6.6B.
    It is now 5.17B. Buffet owns .13B
    (6.6B – 5.17) + .13 = 1.56B shares (23.6%) are no longer trading. This decreases the likelihood (depth and duration) another crash in AAPL.

    3
    August 17, 2017

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