Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) had bought Teva Pharmaceutical (NYSE: TEVA) shares and increased its stake in Apple, Inc. (NASDAQ: AAPL), according to regulatory filing.
Buffett revealed that his company had made a new investment into the struggling generic drugmaker, Teva. Berkshire said it held 18.9 million shares of Teva at the end of 2017, worth around $360 million, according to filings.
Berkshire is now the tenth largest shareholder of the world’s largest generic drugmaker.
Buffett is buying into Teva at the early stages as it begins its repair. The company went on a decline after taking loans out, profit margins decreasing and even rivals producing better and cheaper drugs.
Berkshire also increased its stake in Apple by 23 percent to 31.2 million shares, totaling approximately $27.7 billion, according to analysis by Bloomberg.
Buffett’s moves to increases his company’s stake isn’t clear for either Teva or Apple. For Teva, it shows that Buffett believes in the pharmaceutical company to shift itself into a upward direction.
Along with Teva and Apple, Berkshire also increased its stake in BNY Mellon, Monsanto, and US Bank, but decreased its stake in IBM, General Motors, Sanofi, American Airlines, and Wells Fargo.