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Warren Buffett, president of Buckshire Hathaway / Photo = AP
Buckshire Hathaway, an investment firm led by Warren Buffett, president of the “ Sage of Omaha ”, invested in U.S. pharmaceutical stocks in the third quarter. It is an analysis that President Buffett paid attention to the topic of the new coronavirus infection (Corona 19).
Buckshire Hathaway announced on the 16th (local time) that it had invested $ 5.7 billion (about 6.3 trillion won) in four US pharmaceutical companies in the third quarter. Buckshire Hathaway made new investments in Pfizer and Merck to develop the Corona 19 vaccine. Merck acquired 22.4 million shares (0.9% stake) and Pfizer 3.7 million (0.1%). Pfizer’s share price rose on the 9th, announcing an interim result that the effect of the Corona 19 vaccine under development is more than 90%.
Buckshire Hathaway also expanded its holdings in US pharmaceutical companies in which it had previously invested. Bristol-Myers Squibb (Ticker BMY) 30 million shares (1.3%) and AbbVie (Ticker ABBV) 21.3 million shares (1.2%).
The Financial Times heard Corona 19 as a reason for Buckshire Hathaway’s “change of posture”, which hasn’t shown much interest in the pharmaceutical and healthcare sectors in recent years.
Meanwhile, Bugshire Hathaway sold some of its shares in bank stocks in the third quarter. Wells Fargo shares of the US bank, which once accounted for the largest share of Buckshire Hathaway’s investment portfolio, have fallen by 10 million since mid-August. At the end of the third quarter, the number of Wells Fargo shares held by Buckshire Hathaway was 127 million. It also sold some shares of other banking stocks, such as JP Morgan Chase, PNC Financial and M&T Bank. Costco’s share has also been reduced.
Reporter Gowoon Lee [email protected]
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