Berkshire Hathaway Reduces Moody's Stake Further

Mar. 24, 2010 7:08 AM ETBRK.A, MCO, BRK.B1 Comment
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Market Folly

Yet again, we see that Warren Buffett's Berkshire Hathaway (BRK.A) has sold more shares of Moody's (MCO). According to a Form 4 filed with the SEC, on March 18th, 2010 Berkshire sold 678,962 MCO shares at a price of $29.98. On the next day, Buffett sold an additional 136,943 shares at a weighted average price of $29.8125. Keep in mind though that Berkshire Hathaway still owns over 30.9 million shares of MCO. So while it has reduced its stake in the company numerous times, Berkshire still holds a sizable position. Buffett of course was recently named to Forbes' billionaire list.

As we've said all along, we've been expecting Berkshire Hathaway to further reduce its Moody's position based on Buffett's comments about the company not being in as dominant of a position as it once was. Not to mention, each time shares of MCO have traded in the mid to high $20's, Berkshire has sold some. And, of course, remember that David Einhorn of hedge fund Greenlight Capital has been short MCO in the past as well. So, we'll have to see if this trend continues.

For more resources from the legendary investor himself, check out Warren Buffett's recommended reading list as well his recent interview where he discussed succession planning and other topics.

Of Berkshire's remaining share ownership, 15.2 million shares are owned by Berkshire subsidiary National Indemnity Company "NICO" and 15.7 million are owned by Government Employees Insurance Company "GEICO."

Taken from Google Finance, Moody's is "a provider of credit ratings; credit and economic related research, data and analytical tools; risk management software, and quantitative credit risk measures, credit portfolio management solutions and training services."

To see what other investments the Oracle of Omaha has made, check out Warren Buffett's portfolio and make sure to read Berkshire Hathaway's annual letter.

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