Berkshire Hathaway sells more Moody’s stock, but still owns 29M shares of ratings agencyBy AP
Tuesday, September 14, 2010
Buffett’s company sells 1.35M more Moody’s shares
OMAHA, Neb. — Billionaire Warren Buffett’s company has unloaded another 1.35 million shares of credit ratings firm Moody’s Corp., but Berkshire Hathaway Inc. still controls 12.6 percent of Moody’s stock.
Berkshire reported the latest stock sales to the Securities and Exchange Commission on Tuesday.
Berkshire still holds more than 29.4 million Moody’s shares after the most-recent sales. But in early 2009, Buffett’s Omaha-based company held 48 million shares of Moody’s stock before it started reducing its holdings.
Berkshire said the latest Moody’s sales were completed between last Friday and Tuesday at prices that averaged between $25.10 and $25.22. So the sales generated nearly $34 million, at least, for Buffett’s company.
Berkshire Hathaway Inc.: www.berkshirehathaway.com
Moody’s Corp.: www.moodys.com