Buffett's Berkshire Sells More Moody's Shares

Wednesday, 24 Mar 2010 09:49 AM

 

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Billionaire Warren Buffett's company has sold another 815,905 shares of credit ratings firm Moody's Corp., but Berkshire Hathaway Inc. still holds nearly 31 million shares.

Berkshire reported the latest stock sales to the Securities and Exchange Commission on Monday.

Berkshire still controls about 13 percent of Moody's stock, but the Omaha company has significantly reduced its Moody's holdings over the past year.

Berkshire held 48 million shares at the end of last March and reduced that stake to 30.99 million as of last week.

Berkshire said the latest Moody's sales were completed last Thursday and Friday in two blocks, with average prices of $29.98 and $29.81. So the sales would have generated roughly $24.4 million for Buffett's company.

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