The Berkshire open-market sale is its first of HP since the company accumulated a 12% stake in the PC maker in early 2022
Berkshire Hathaway sold 5.5 million shares of HPInc. in its first sale of stock in the maker of personal computers and printers since Berkshire accumulated a 12% stake in the company in early part of 2022.
The Berkshire stake is now worth about $3.3 billion based on the closing price of HP Inc. on Wednesday. HP stock was down 2.1% to $28.33 on Wednesday. The sale of the 5.5 million shares were made at an average price of about $29 and totaled around $160 million. Investors will be interested to see if Berkshire continues to sell down the HP stake —which it has done in recent quarters with several bank stocks including U.S. Bancorp. . HP stock could come under pressure Thursday due to the Berkshire sales and potential investor concerns that more sales may be coming.
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