Buffett's firm invests in drugmaker Teva, trims Phillips 66

Berkshire Hathaway Vice Chairman Charlie Munger. More

Berkshire Hathaway Vice Chairman Charlie Munger. More

In the last three months, TEVA has received 5 buy, 11 hold and 4 sell ratings. Investors keep track of the portfolio's changes to figure out which stocks the Oracle of Omaha is willing to put his money into. Buffett has been steadily selling IBM shares over the past year because the company hasn't performed as expected since he first bought shares in 2011. The billionaire has never identified one specific person as being responsible for the stake, but the idea is generally credited to Berkshire's investment deputies, Todd Combs and Ted Weschler.

Stocks in the red include NetAp as the data management company reported a loss due to the new tax law, SunPower as the solar firm's full year revenue forecast came in below expectations, and TreeHouse Foods - shares tumbling as the packaged food manufacturer issued full-year profit guidance that missed the mark. After selling 94.5% of its IBM shares, Buffet's business now owns just 2.05 million IBM shares. Teva Pharmaceutical is an Israeli company that manufactures general objective drugs. Buffett admittedly misjudged IBM and has said that he revalued the company lower than he initially did. Berkshire owns 9.3% of the bank and Buffett also owns shares in his personal portfolio, and he has mentioned previously that some selling would be necessary.

Warren Buffett's Berkshire Hathaway on Wednesday disclosed a 1.86% stake in Teva Pharmaceuticals.

Buffet's stake, which was reported by the company in a filing Wednesday with the SEC, is part of the investor's attempt to improve the healthcare industry.

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Berkshire's stake in American Airlines was slightly reduced by 1 million shares.

Its Sanofi investment was also decreased, but by a negligible amount - at just over 27,000 shares. Last May, the billionaire investor said he had liquidated almost one third of his stake in IBM. He has previously noted that the stock has disappointed him over the years.

Berkshire Hathaway and Phillips 66 said the repurchase will let Buffett's company reduce its investment below the 10 per cent level that triggers additional regulations.

At that time, Buffett said that he no longer valued IBM in the same way he did more than six years ago at the time he started purchasing it. We won't know what he's buying now until mid-May, but many of its investors are probably hoping for more buying, especially after the recent market correction.

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