According to a regulatory filing on Tuesday, it was revealed that Berkshire Hathaway (NYSE:BRKb), which is led by Warren Buffett, has increased its shares in Apple’s stock (NASDAQ:AAPL) by 134 million outstanding shares which is three percent higher for the third quarter.
By the end of September this year, the American conglomerate owns around 2.6% of Apple shares as stated in its third quarter 13F filing making Berkshire Hathaway the fifth biggest owner of outstanding shares from the iPhone maker.
Berkshire Hathaway, which began investing in Apple shares back in 2016 starting off with ten million shares. Shortly, Buffet has been reported to have added 76 million Apple shares to its holdings.
A couple of months ago, the billionaire revealed that he has never sold Apple shares and added that he has not considered the date during the times he has purchased Apple shares and has not hinted back then whether he will purchase more Apple shares in the near future.
Apple Shares And Market Cap
Apple shares which hit a new record high during the beginning of the November are currently bullish due to the upbeat outlook led by the sales of its recently released iPhone X unit in line with the tenth anniversary of the device’s release. The demand for the iPhone X which will be sold at a starting price of $1,000 making it the most expensive iPhone yet is set to push Apple shares to new highs in the coming months. Analysts then have raised their target price for Apple shares and has projected the market value of the company to cross $900 billion and close to a trillion in a couple of months.
Other Berkshire Hathaway Stake Increases
Also recently, Berkshire Hathaway increased its stakes in other top stocks such and Monsanto (NYSE:MON). For the third quarter, Berkshire Hathaway increased its holdings by 10% in the agricultural biotech company Monsanto.
Buffett also cut a number of his stakes in other companies such as Charter Communications (NASDAQ:CHTR), where its stakes were cut by 10% with over 900,000 shares being sold during the third quarter while over 17 million shares of Berkshire Hathaway’s stock being sold during the third quarter which is one-third of their total stakes.
Berkshire Hathaway’s share of financial company Wells Fargo & Company (NYSE:WFC) was also cut during the quarter through the selling of more than 3.75 million shares. Berkshire Hathaway is currently Wells Fargo’s biggest equity position with more than 460 million shares at a value of $25.6 billion during the third quarter.