Warren Buffett’s Berkshire Hathaway Purchases 11.4% Stake in HP

On April 6, Berkshire Hathaway, the Warren Buffett-controlled conglomerate, disclosed it had purchased almost 121 million shares of HP Inc. worth $4.2 billion, giving it an 11.4% stake in HP and making it the company’s largest shareholder.

In a statement, HP said, “Berkshire Hathaway is one of the world’s most respected investors and we welcome them as an investor.”

HP’s NYSE shares rose more than 17% Thursday morning following the disclosure.

Reuters reported this is Berkshire’s third big investment this year following its purchase of insurance company Alleghany Corp. for $11.6 billion in cash, and a 14.6% stake in Occidental Petroleum. It noted that while Berkshire didn’t say whether Buffett or his portfolio managers were responsible for HP, “… Buffett normally handles larger investments” and “Buffett is chiefly responsible for Berkshire’s stake in Apple Inc.”

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