Warren Buffett owns now 121 million shares of HP according to a new filing. The $4.2 billion investment announced gives Berkshire Hathaway a roughly 11% stake in HP, turning Buffett into the largest shareholder for the technology company.
Known for his massive cash that would allow him to invest almost anywhere, Buffett finally made a big move sending the HP stocks at record highs. What caught his eye to invest now in the technology company is already being discussed by analysts.
The war in Ukraine and rising concerns on how long the Federal Reserve will support for the economy are setting a new landscape where Buffett appears to be more inclined to spend. While many other investors are selling, he is shopping big after last month’s deal to buy insurance company Alleghany for $11.6 billion.
This recent purchasing gives fresh air to HP and a ‘Buffett Approval’ tag, after the tech company was left behind by larger competitors.
This is the second billionaire in a week that makes the news for huge stock purchasing, following Elon Musk $2.64 billion investment in Twitter.
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