Warren Buffett's company dumps another 5 million shares of printer maker HP
Omaha (AP): Investors soon won't be able to follow Warren Buffett's every move in HP's stock if the billionaire's company keeps selling off shares of the printer and computer maker.
Berkshire Hathaway's ownership of HP Inc. is about to drop below 10 per cent after it sold nearly 5 million shares, according to a regulatory filing by Buffett's company late Monday.
The Securities and Exchange Commission requires investors who own less than 10 per cent of a company to report their company holdings only on a quarterly basis rather than big investors who must disclose their actions closer to the time of a so-called "triggering" event, which can mean buying or selling shares.
Many investors do watch Buffett's moves closely because of his extremely successful track record over the years.
Not that long ago, Berkshire owned more than 12 per cent of HP's stock before it started to trim its stake last month. Now it's down to 10.2 per cent after several stock sales of the Palo Alto, California, company.
In the past 30 days, shares of HP Inc. have tumbled nearly 14 per cent, but there has been a fairly broad sell-off across the tech sector. In the same span, shares of Apple Inc. have fallen 9 per cent. But HP is still one of the biggest decliners among peers.
Buffett may be doing more than just trimming the investment, but he doesn't comment on stock sales like this any more than what he's required to disclose because he doesn't want to tip his hand while Berkshire might still be selling. He didn't immediately respond to questions Tuesday on these latest sales.
Berkshire amassed its HP stake early last year. Even after the latest sales, Buffett's Omaha, Nebraska-based conglomerate still held more than 100.9 million shares. Altogether, Berkshire has sold just over 20 million shares in the past month.
Throughout his investment career, Buffett has famously resisted investing in tech companies because he said he couldn't confidently pick out the long-term winners. But in recent years, Berkshire has bought a massive stake in Apple that ranks as the largest investment in its USD 350 billion portfolio. Buffett has said he considers Apple a consumer products company with extremely loyal customers, and he can understand that kind of business.
Besides investments, Berkshire owns an eclectic mix of companies, including Geico insurance, BNSF railroad, several major utilities and an assortment of manufacturing and retail businesses including well-known brands like Dairy Queen, See's Candy and Helzberg Diamonds.
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UP: 90 Bangladeshis, including 28 children, held in Mathura for illegal stay
Mathura (UP), May 16 (PTI): As many as 90 Bangladeshi nationals, including many children, were apprehended from Uttar Pradesh's Mathura district on Friday for alleged illegal stay in India, officials said.
They were taken into custody from local brickyards at Khajpur village under the Naujheel police station limits, a senior officer said.
"Regular searches were being conducted throughout the district. During one such operation, police were searching some local brickyards when they came across Bangladeshi nationals working there," SSP Shlok Kumar said.
Giving a break-up, the officer said in all, 35 men, 27 women and 28 children have been taken into custody.
"During interrogation, all of them admitted to being Bangladeshi nationals living illegally in India. They moved to Mathura three to four months back from a neighbouring state. Police are trying to establish their links," the SSP said, adding that their job contractor and other associates are also being questioned.
The officer told PTI that police also recovered some Aadhaar cards from the Bangladeshi nationals, apparently issued on forged documents in some other state.
Further legal proceedings are underway, Kumar said.
