International Business Machines Corp. (NYSE:IBM) is seeing confidence from its biggest institutional investor as Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) has upped its stake in Big Blue to the tune of 6.5 million shares.
According to CNBC’s Becky Quick, Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) disclosed in a regulatory filing on Tuesday that it has increased its stake in International Business Machines Corp. (NYSE:IBM).
“As for what Buffett’s firm has been buying, filings show that Berkshire purchased 15.6 million shares of Deere [Deere & Company (NYSE:DE)]. It also added about 6.5 million shares of IBM to its holdings,” Quick said.
Berkshire Hathaway Inc. (NYSE:BRK.A) is the largest institutional investor in International Business Machines Corp. (NYSE:IBM). By the end of September, the firm held about 70.48 million shares in Big Blue. As Quick noted, the purchase of nearly 6.5 million shares makes Berkshire’s holdings in the technology company nearly 77 million shares.
Quick noted that with Big Blue’s stock lagging, people were unsure whether Warren Buffet would continue to buy shares of the company as he planned in the past. This disclosure puts an end to that uncertainty.
Quick’s colleague, Andrew Ross Sorkin, said that the additional stake is “amazing” for him. Observers note that Berkshire’s purchase shows that the firm is confident in Big Blue’s future.
Aside from the news about International Business Machines Corp. (NYSE:IBM), Berkshire Hathaway Inc. (NYSE:BRK.A) has also disclosed that it has unloaded all its 41 million shares in Exxon Mobil Corporation (NYSE:XOM).
According to Insider Monkey’s data, Warren Buffett’s firm held about 41.13 million shares in the energy company by the end of Septembe 2014. Berkshire Hathaway Inc. (NYSE:BRK.A) entered its position on Exxon Mobile during the third quarter of 2013 buying about 40.09 million shares.
Another bullish institutional investor in International Business Machines Corp. (NYSE:IBM) is Prem Watsa’s Fairfax Financial Holdings which increased its stake in Big Blue by a whopping 88909% in the third quarter of last year to 1.068 million shares.
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