> Warren Buffett Blog: Buffett sells some AT&T and buys more Wells fargo

Thursday, February 18, 2016

Buffett sells some AT&T and buys more Wells fargo

Warren Buffett’s Berkshire Hathaway Inc. sold some of its shares in AT&T Inc. in the fourth quarter, while the firm took a new $396 million stake in energy giant Kinder Morgan Inc.

Berkshire sold 12.7 million shares of AT&T in the last three months of the year, putting its stake at $1.6 billion as of Dec. 31.

Berkshire had bought into AT&T during the third quarter. The firm had been a large investor in DirecTV, which AT&T bought last July.

AT&T’s shares are up 5.7% in the past 12 months.

Berkshire also bought 9.41 million shares of Wells Fargo & Co., bringing its stake up to $26.1 billion, the firm’s largest holding.