Berkshire Hathaway Inc., managed by Warren Buffett, filed the regulatory filing showing that the company has overweighted the shares of IBM stock while reduced the shares of Intel stock in the first quarter this year.
Buffett, who had always been avoiding investing in technology stocks, disclosed the position of Intel stock at the end of last year. But the regulatory filing submitted by Berkshire Hathaway to the U.S. Securities and Exchange Commission (SEC) showed that in the first quarter the company has reduced about 400 million shares of Intel stock. As of the end of the first quarter, Buffett and Berkshire Hathaway held 774.5 million shares of Intel stock, lower than 1149.5 million shares as of December 31, 2011.
Buffett said the in an interview with the U.S. financial TV channel CNBC in November last year, Berkshire Hathaway had already held 5.5% of IBM stock, which was the biggest investment Buffett ever had made in the technology field. Buffett said Berkshire Hathaway had opened a position for the IBM stock since March of last year, as of November last year, the company had purchased 64 million shares of IBM stock for $10.7 billion. The original goal of Berkshire Hathaway was to buy $10 billion worth of IBM stock. Berkshire Hathaway’s latest filing shows the company has added 48.9 million shares of IBM stock in the first quarter.
But the news does not seem to have any substaintial impact on stock prices of Intel and IBM. Intel stock price fell slightly by $0.14, or 0.50%, to close at $26.88 per share on the Nasdaq Stock Market regular trading on Tuesday; IBM stock price slipped $0.40, or 0.20%, to end at $199.04 per share.