Warren Buffett’s holding company Berkshire Hathaway (BRK.A / BRK.B) continues to sell its stake in personal computer (PC) maker HP (HPQ).
Since September of this year, Berkshire has reduced its stake in HP to 5.2% from about 10%.
Buffett’s company still owns 51.5 million shares of HP that’s worth $1.6 billion U.S. and remains the third-largest institutional shareholder of HP behind BlackRock (BLK) and Vanguard.
Berkshire initially took a position in HP back in April 2022. However, the investment hasn’t been profitable as the stock is trading today below the level where Buffett first bought it.
Buffett typically closes out entire positions in a stock once he starts selling.
HP stock is up 14% in 2023 and trading at $30.37 U.S. per share. The company’s share price has underperformed the Nasdaq exchange, which is up 39% this year, for a long time now.
Berkshire Hathaway’s Class B stock has gained 15% this year to trade at $357.06 U.S. per share.
