Buffet’s Berkshire buys Kroger & Biogen, lowers stakes in Wells Fargo, Goldman Sachs


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Buffet’s Berkshire buys Kroger & Biogen, lowers stakes in Wells Fargo, Goldman Sachs

Late on Friday, the 14th of February 2020, the American billionaire businessman, investor and philanthropist with a net worth of $88.9 billion as of December 31st, 2019, Warren Buffet’s investment fund Berkshire Hathaway had issued a public statement saying that the company had seized a $549.1 million worth of stake in the largest US hypermarket chain operator, Kroger Co.

Aside from that, referring to a regulatory filing the Berkshire Hathaway had detailed in the US SEC (Securities and Exchange Commission) back in the 31st of December 2019, the company was also quoted saying at its Friday’s (February 14th) statement that it had purchased 648,000 shares in the American drugmaker Biogen Inc.

for a stark sum of $192.4 million and had substantially slashed its stakes in two of the major US lenders such as Wells Fargo & Co. and Goldman Sachs Group Inc. In point of fact, latest sale of Berkshire’s nearly 21 per cent stake of Wells Fargo came forth as the bank had botched to vent out a way to vindicate a slew of financial mistreatments, origin of which were dated back to the September of 2016.

On top of that, following reveal of Berkshire Hathaway’s Friday’s (February 14th) statement, shares’ prices of Kroger rose as much as 3.9 per cent, while Biogen Inc. surged 1.5 per cent higher in the after-market trading.