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HP falls 4% as Buffett's Berkshire sells more stock
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investing.comWarren Buffett's Berkshire Hathaway (NYSE:BRKa) has continued to reduce its stake in HP Inc. (NYSE:HPQ), selling approximately $130 million worth of HP stock over the last three days of the last week.
HPQ shares fell nearly 3% in early Monday trade.
The conglomerate sold nearly 4.8M shares at prices ranging from $26 to $28 per share. As a result, Berkshire's ownership in HP was reduced from 11.7% to 11.2%, with just under 111M shares remaining.
HP's stock initially surged to a record high when Berkshire first disclosed its stake in April 2022, but it has since fallen by about 35%.
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