WellsFargo (NYSE:WFC) stock hit highest since 2008; Buffett stake jumps- WFC, BRK.A, IBM, KO, AXP
Northern, WI 03/10/2013 (avauncer) –Shares of Wells Fargo & Co (NYSE:WFC) on Friday rose to their highest level since October 2008.
The U.S. banking and mortgage firm’s shares were up by 0.22 percent to close at $36.50. At this price, the worth of Warren Buffett-controlled Berkshire Hathaway Inc.’s (NYSE:BRK.A) 456.2 million shares has increased to become $16.7 billion.
Chairman and CEO of Omaha, Nebraska-based Berkshire Hathaway, Buffett reportedly appreciated Wells Fargo’s managers. Wells Fargo is one of Berkshire’s “big four” stock investments, “a group that Berkshire will probably continue to build over time,” Buffett said.
The other three other “big four” investments are International Business Machines Corp. (NYSE:IBM), The Coca-Cola Company (NYSE:KO), and American Express Company (NYSE:AXP).
Berkshire has increased its stake in the bank in past quarters. “Berkshire’s rising share of the bank’s equity entitles Berkshire to a greater slice of its future earnings,” Buffett said.
Shares of Wells Fargo & Co (NYSE:WFC) were up by 0.22% to close at $36.50.
Shares of Berkshire Hathaway Inc. (NYSE:BRK.A) were up by 0.13% to close at $155,411.27.
Shares of International Business Machines Corp. (NYSE:IBM) were up by 0.46% to close at $210.38
Shares of Coca-Cola Company (NYSE:KO) were up by 0.26% to close at $39.22
Shares of American Express Company (NYSE:AXP) were up by 0.22% to close at $64.70DISCLAIMER: This content is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. - Contact us at support @ avauncer dot com if you have any questions or comments.