Berkshire Hathaway's Q1 Apple Reduction; Mystery Holding Revealed
Berkshire Hathaway has reduced its Apple holdings, though Apple remains its largest holding. The mystery holding, revealed to be Zurich-based insurance company Chubb $Chubb Ltd(CB.US$ , saw Berkshire purchase nearly 26 million shares valued at $6.7 billion, making it the ninth largest holding in the portfolio. Berkshire's investment in financial stocks has outweighed other sectors, with disclosed investment values decreasing by 4.5%.
According to Dow Jones Market Data, Berkshire's holdings represent 6.4% of Chubb's total equity.
Following the announcement, Chubb's stock surged over 7% in after-hours trading. Year-to-date, Chubb's stock price has risen by approximately 12%. FactSet data indicated that earlier this week, Chubb's price-to-earnings (P/E) ratio stood at 11.3, compared to the S&P 500's P/E ratio of 20.6 and the financial sector's average P/E ratio of 15.3.
Following the announcement, Chubb's stock surged over 7% in after-hours trading. Year-to-date, Chubb's stock price has risen by approximately 12%. FactSet data indicated that earlier this week, Chubb's price-to-earnings (P/E) ratio stood at 11.3, compared to the S&P 500's P/E ratio of 20.6 and the financial sector's average P/E ratio of 15.3.
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Some famous words of Buffett. I hope it's useful to you. : )
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