Warren Buffett cuts Walmart and Deer to increase Apple and Philips 66.
Breaking news : 08/17/2016
Berkshire Hathaway (BRK.A), according the 13F, filed the SEC last month for the second quarter of the opeartions by company, shows some interesting changes. It seems that Warren Buffett bet more on companies that raise dividends, even in the technology sector, which has never been a lover. (Source: “Buffett’s Berkshire Hathaway Increases Bet on Apple,” The Wall Street Journal, August 16, 2016.)
Warren Buffett has a global reputation, known worldwide for his choices of undervalued companies that over the years, in addition to dividends, they offered huge gains, becoming the third richest man's in the world. Mr. Buffett has built his empire by picking opportunities in traditional companies, such as banks and industrial businesses, including some household names like Coca-Cola Co. (KO) and American Express Co. Berkshire Hathaway disclosed in May that it had made a $1.0 billion bet on the Apple stock.
Apple (AAPL) it's the most capitalized company in the world in the technology sector and offers a dividend around 2%, in growth. Buffett also bought more shares in the refinery Philips 66 (PSX), company offering dividend of 3.4%
Similarly, Phillips 66 reported second-quarter earnings that surpassed analysts’ estimates. Net income for the second quarter was $0.93 a share, and excluding one-time items, the earning s were $0.94 a share, beating the $0.93 average of 17 analysts’ estimates, which were compiled by Bloomberg. As Berkshire increases its position in Phillips 66 by 4.3%, the company cut its holdings in discount retailer Wal-Mart Stores by 27%, Deere & Co. by 5.7%, and in Canada’s largest crude oil producer, Suncor Energy, by 26%. (Source: Ibid.)