Warren Buffett Sells About a Third of His Shares in IBM
Buffett owned about 81 million shares of IBM at the end of 2016.
Warren Buffett, one of IBM's (IBM) - Get Report biggest investors, has sold a third of his stake in the company. At the end of 2016, Buffet's company Berkshire Hathaway owned about 81 million shares of IBM.
The Chairman and CEO of Berkshire Hathaway (BRK.A) - Get Report (BRK.B) - Get Report sold a third of the IBM shares across Q1 and Q2 of 2017, although he still owns more than 50 million shares of IBM.
The billionaire investor explained his decisions, "I don't value IBM the same way that I did six years ago when I started buying," he told CNBC.
Buffett has said he currently doesn't plan on selling more of his stake, and said he could buy again.
This article was written by a staff member of TheStreet.
