Stocks of Apple Inc. and Teva Pharmaceutical went up following Berkshire Hathaway’s disclosure of a few investments.
Teva Pharmaceutical’s stocks went up by more than 10.5 percent following Berkshire Hathaway revealed on Wednesday that it had a $358 million stake in the pharmaceutical company as of the end of the 4th quarter. It also showed that Berkshire also increased its holdings of Apple Inc. by 23.3 percent which boosted Apple’s shares by more than 2 percent as a result.
As of the close on Wednesday, stocks for Apple Inc. went down by 1.1 percent in 2018 but is up by 23.5 percent over the last 12 months. Teva Pharmaceutical shares gained 2 percent for this year and is down by 47.4 percent since last February.
Warren Buffett is chairman of Berkshire Hathaway along with Charlie Munger, Buffett business partner as well as vice chairman. Berkshire’s subsidiaries include Kraft Heinz, Duracell and Geico.
Berkshire announced last January that they will have two new vice chairs, Gregory Abel and Ajit Jain. The move is “part of a movement to succession over time” according to Buffett although that has nothing to do with a change in his health.