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Berkshire Hathaway Reduces Holding Of HP Stock

Berkshire Hathaway (BRK.B), the holding company of famed investor Warren Buffett, sold 5.5 million shares of computer maker Hewlett-Packard (HPQ) in recent days.

The unwinding of stock in Hewlett-Packard, or HP as the company is commonly known, represents the first sale of stock in the maker of personal computers (PCs) and printers since Berkshire Hathaway bought a 12% stake in the company in 2022.

Berkshire Hathaway now has 115.5 million HP shares, worth about $3.3 billion U.S., according to statutory regulatory filings made with the U.S. Securities and Exchange Commission (SEC).

The stock sale had to be disclosed by law because Berkshire Hathaway owns more than 10% of HP stock. After the sale, Berkshire owns about 11% of HP.

It is not clear why Buffett reduced his position in HP stock or if he will continue unwinding his holding in the company. Buffett rarely discusses the reasons behind his stock trades.

However, Buffett likely took a loss on the sale of HP stock as the computer maker’s share price has declined nearly 25% since Berkshire’s final purchase of HP shares in April 2022.

Berkshire Hathaway’s own stock has increased 32% over the last 12 months and is currently trading at $367.82 U.S., near its all-time high.