Berkshire Hathaway Bets on Big Drugmakers, Exits Costco

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bloobs
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Berkshire Hathaway Bets on Big Drugmakers, Exits Costco

Post by bloobs »

06:59 AM EST, 11/17/2020 (MT Newswires) --

Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) acquired stakes in drugmakers Merck & Co. ( MRK ) , Bristol-Myers Squibb ( BMY ) , AbbVie ( ABBV ) and Pfizer (PFE) in the third quarter, while exiting the membership warehouse retailer Costco (COST), according to a Securities and Exchange Commission filing on Monday.

Based on the filing, the company acquired 22.4 million Merck ( MRK ) shares, nearly 30 million Bristol-Myers Squibb ( BMY ) shares, 21.3 million AbbVie ( ABBV ) shares and and 3.7 million Pfizer shares. It also established a new investment in T-Mobile US ( TMUS ) , where it acquired 2.4 million shares.

The company sold its entire holding of 4.3 million shares in Costco, according to the filing.

In premarket trading on Tuesday, BMY, MRK, ABBV and PFE were all trading higher, adding 2.8%, 2%, 2.2% and 2.4%, respectively. TMUS was up 3.4% while COST gained 2.4%.

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IRQVET
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Re: Berkshire Hathaway Bets on Big Drugmakers, Exits Costco

Post by IRQVET »

AmazonRx just launched today as well.
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Regularguy
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Re: Berkshire Hathaway Bets on Big Drugmakers, Exits Costco

Post by Regularguy »

Tesla is being included in S and P Dec 21 :wink: And Space ex just had a space station launch.

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