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Wednesday, May 8, 2013

USA TODAY: Warren Buffett's Berkshire sells 1.4M Moody's shares

OMAHA, Neb. (AP) — Berkshire Hathaway has sold nearly 1.4 million more Moody's shares, so it has unloaded more than 3 million shares of the credit ratings agency this month.
But Warren Buffett's company still controls 11% of Moody's because it continued to hold 25.3 million shares after the sales.
Berkshire reported the latest transactions that happened between Thursday and Monday to the Securities and Exchange Commission on Monday.
Berkshire used to own 48 million Moody's shares in March 2009 before it started selling the stock.
Berkshire generated roughly $84.5 million from the latest stock sales because it sold the shares at prices between $60 and $62.78 per share.
Berkshire reported selling 1.7 million Moody's shares last week.

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