{"id":119959,"date":"2021-08-16T22:12:03","date_gmt":"2021-08-16T22:12:03","guid":{"rendered":"https:\/\/fin2me.com\/?p=119959"},"modified":"2021-08-16T22:12:03","modified_gmt":"2021-08-16T22:12:03","slug":"buffetts-berkshire-pares-drug-holdings-sheds-axalta-biogen","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/buffetts-berkshire-pares-drug-holdings-sheds-axalta-biogen\/","title":{"rendered":"Buffett's Berkshire pares drug holdings, sheds Axalta, Biogen"},"content":{"rendered":"

(Reuters) – Warren Buffett\u2019s Berkshire Hathaway Inc said on Monday it trimmed or eliminated its stakes in several pharmaceutical companies, and reported a small new stake in a Merck & Co spinoff, Organon & Co.<\/p>

FILE PHOTO: A sign marks a Biogen facility in Cambridge, Massachusetts, U.S. January 26, 2017. REUTERS\/Brian Snyder<\/figcaption>

In the second quarter, Berkshire said it exited a $180 million stake in Biogen Inc and reduced investments in Abbvie Inc, Bristol-Myers Squibb Co and Merck.<\/p>\n

It also shed a $411 million stake in paint maker Axalta Coating Systems Ltd, a Berkshire holding since 2015.<\/p>\n

The changes were disclosed in a regulatory filing detailing Berkshire\u2019s U.S.-listed holdings as of June 30.<\/p>\n

Berkshire has been a net seller of stocks in 2021, including in the second quarter when it sold $1.1 billion more stocks than it bought.<\/p>\n

That suggests Buffett and his investment managers Todd Combs and Ted Weschler remain wary of valuations as stock prices regularly set new highs.<\/p>\n

The Standard & Poor\u2019s has doubled from its March 2020 trough early in the COVID-19 pandemic.<\/p>\n

Berkshire has instead bought back about $14.3 billion of its own stock between January and late July though its share price also set records, and now sits just 2% below its May 7 peak.<\/p>\n

The Omaha, Nebraska-based conglomerate ended June with $144.1 billion of cash and equivalents. Berkshire also owns dozens of businesses including the BNSF railroad, Geico auto insurance and Dairy Queen ice cream.<\/p>\n

Organon specializes in contraception and other women\u2019s health products, and has dozens of brands in other fields.<\/p>\n

Berkshire reported a $46.9 million Organon stake as of June 30.<\/p>\n

Its largest investments on that date were $124.3 billion in Apple Inc and $42.6 billion in Bank of America Corp.<\/p>\n

In Monday\u2019s filing, Berkshire also reported lowered stakes in Chevron Corp, General Motors Co, media company Liberty Global Plc, insurance broker Marsh & McLennan Cos and US Bancorp.<\/p>\n

It reported increased stakes in supermarket chain Kroger Co, home furnishings chain RH and Marsh rival Aon Plc, which under regulatory pressure called off a $30 billion merger with Willis Towers Watson Plc last month.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Warren Buffett\u2019s Berkshire Hathaway Inc said on Monday it trimmed or eliminated its stakes in several pharmaceutical companies, and reported a small new […]<\/p>\n","protected":false},"author":3,"featured_media":119958,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBuffett's Berkshire pares drug holdings, sheds Axalta, Biogen - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/buffetts-berkshire-pares-drug-holdings-sheds-axalta-biogen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buffett's Berkshire pares drug holdings, sheds Axalta, Biogen - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Warren Buffett\u2019s Berkshire Hathaway Inc said on Monday it trimmed or eliminated its stakes in several pharmaceutical companies, and reported a small new [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/buffetts-berkshire-pares-drug-holdings-sheds-axalta-biogen\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-16T22:12:03+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Buffetts-Berkshire-pares-drug-holdings-sheds-Axalta-Biogen.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/buffetts-berkshire-pares-drug-holdings-sheds-axalta-biogen\/\",\"url\":\"https:\/\/fin2me.com\/markets\/buffetts-berkshire-pares-drug-holdings-sheds-axalta-biogen\/\",\"name\":\"Buffett's Berkshire pares drug holdings, sheds Axalta, Biogen - 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