Posted March 10, 2013 by Eric Shirey in Featured

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 $64.70

Eric Shirey

Eric Shireya is a former newspaper section editor and reporter who has been reporting on Fashion and Lifestyle for about 10 years. His work has been published in national business trade magazines, and can be found on wire services, in daily newspapers, in university alumni magazines, on the web, in newsletters, and more. His career highlights have included interviewing Bob Hope, laughing through a phone conversation with Richard Simmons, chatting with Melissa Etheridge, and enduring a press conference in a hot air balloon.