Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.A, Financial)(BRK.B, Financial), and his two new portfolio managers, Todd Combs and Ted Weschler, bought two new stocks in the first quarter: General Motors (GM, Financial) and Viacom Inc. Cl B (VIAB, Financial).
Buffett also added to existing holdings: Bank of New York Mellon (BK, Financial), Davita Inc. (DVA, Financial), Liberty Media (LMCA, Financial), Walmart Stores (WMT, Financial), DirecTV (DTV, Financial) and IBM (IBM, Financial).
He reduced Berkshire’s positions in Ingersoll Rand (IR), Procter & Gamble (PG), Kraft Foods Inc. (KFT), Dollar General (DG), Intel Corp. (INTC) and Verisk Analytic (VRSK). He sold out of Comdisco Holding (CDC).
New Buys
General Motors (GM)
Buffett bought 10 million shares of General Motors (GM) at an average price of $25 per share. The stock price has declined 11% since then.
General Motors Company is engaged in the designing, manufacturing and retailing of vehicles globally including passenger cars, crossover vehicles, and light trucks, sport utility vehicles, vans and other vehicles. General Motors has a market cap of $34.45 billion; its shares were traded at around $22.3 with a P/E ratio of 5.7 and P/S ratio of 0.2.
Viacom Inc. Class B (VIAB)
Buffett bought 1,591,670 shares at an average price of $48. The stock price has declined 2% since then.
Viacom is a global entertainment content company whose family of prominent and respected brands includes the multiplatform properties of MTV Networks, BET Networks, Paramount Pictures, Paramount Home Entertainment and DreamWorks. Viacom Inc. Cl B has a market cap of $23.31 billion; its shares were traded at around $46.99 with a P/E ratio of 11.7 and P/S ratio of 1.6. The dividend yield of Viacom Inc. Cl B stocks is 2.1%. Viacom Inc. Cl B had an annual average earnings growth of 45.2% over the past five years.
Additions
Bank of New York Mellon (BK)
Buffett added 3,813,551 shares of Bank of New York Mellon (BK) at an average price of $22. He initiated the position with 1,992,759 shares at an average price of $25 in the third quarter of 2010, and sold 198,844 shares at an average price of $28. At the end of the first quarter, Buffett owned a total of 5,607,466 shares.
Bank of New York Mellon is a bank holding company and one of the world's larger financial institutions. Bank of New York Mellon has a market cap of $26.63 billion; its shares were traded at around $21.12 with a P/E ratio of 10.4 and P/S ratio of 1.8. The dividend yield of Bank of New York Mellon stocks is 2.3%.
Davita Inc. (DVA)
Buffett added 3,315,500 shares of Davita Inc. (DVA) at an average price of $84. In the fourth quarter of 2011 he bought 2,684,500 shares at an average price of $71. At the end of the first quarter of 2012, he owned a total of 6 million shares.
DaVita Inc. is one of the largest providers of high-quality dialysis and related services for patients suffering from chronic kidney failure, also known as end stage renal disease. Davita Inc. has a market cap of $7.77 billion; its shares were traded at around $82.23 with a P/E ratio of 14.6 and P/S ratio of 1.1. Davita Inc. had an annual average earnings growth of 17.8% over the past 10 years. GuruFocus rated Davita Inc. the business predictability rank of 3.5-star.
Liberty Media (LMCA)
Buffett added 1,298,600 shares of Liberty Media (LMCA) at an average price of $86. He initiated the position with 1,701,400 shares at an average price of $75. At the end of the first quarter of 2012, he owned 3 million shares.
Liberty Media Corporation owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Liberty Media has a market cap of $9.98 billion; its shares were traded at around $84.43 with a P/E ratio of 56 and P/S ratio of 7.1.
Walmart Stores (WMT)
Buffett bought 7,671,000 shares of Walmart at an average price of $61. He initiated the position in the third quarter of 2009 with 17,892,342 shares at an average price of $50, and bought 1,200,500 shares in the fourth quarter of 2009 at an average price of $53. At the end of the first quarter of 2012, he owned 46,708,142 shares.
Walmart Stores Inc. is the world's largest retailer. Walmart Stores has a market cap of $202.07 billion; its shares were traded at around $59.35 with a P/E ratio of 13.3 and P/S ratio of 0.5. The dividend yield of Walmart Stores stocks is 2.7%. Walmart Stores had an annual average earnings growth of 11.3% over the past 10 years. GuruFocus rated Walmart Stores the business predictability rank of 5-star.
DirecTV (DTV)
Buffett bought 2,651,200 shares of DirecTV (DTV) at an average price of $46. He initiated the position in the third quarter of 2011 with 4,249,400 shares at an average price of $46, and added 16,099,000 shares at an average price of $45 in the fourth quarter of 2011. At the end of the first quarter of 2012, he owned 22,999,600 shares.
DirecTV is a provider of digital multichannel television entertainment in the United States and Latin America. DirecTV has a market cap of $32.19 billion; its shares were traded at around $46.99 with a P/E ratio of 12.9 and P/S ratio of 1.2. DirecTV had an annual average earnings growth of 33.4% over the past 10 years. GuruFocus rated DirecTV the business predictability rank of 2.5-star.
Wells Fargo (WFC)
Buffett added 10,631,300 shares of Wells Fargo (WFC) at an average price of $31. It is a long-term holding. At the end of the first quarter of 2012, Buffett owned 394,334,928 shares.
Wells Fargo & Co. is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through stores, its Internet site and other distribution channels across North America as well as internationally. Wells Fargo has a market cap of $175.8 billion; its shares were traded at around $32.24 with a P/E ratio of 11.5 and P/S ratio of 2. The dividend yield of Wells Fargo stocks is 2.6%. Wells Fargo had an annual average earnings growth of 2.2% over the past 10 years. GuruFocus rated Wells Fargo the business predictability rank of 2-star.
IBM (IBM)
Buffett bought 489,769 shares of IBM at an average price of $195 per share. He initiated the position in the first quarter of 2011 at an average price of $159. At the end of the first quarter of 2012, he owned 64,395,700 shares.
IBM uses advanced information technology to provide customer solutions. IBM has a market cap of $233.09 billion; its shares were traded at around $199.3 with a P/E ratio of 14.5 and P/S ratio of 2.2. The dividend yield of IBM stocks is 1.7%. Intl Bus Mach had an annual average earnings growth of 11.8% over the past 10 years. GuruFocus rated IBM the business predictability rank of 4.5-star.
See Warren Buffett’s equity portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Warren Buffett.
Buffett also added to existing holdings: Bank of New York Mellon (BK, Financial), Davita Inc. (DVA, Financial), Liberty Media (LMCA, Financial), Walmart Stores (WMT, Financial), DirecTV (DTV, Financial) and IBM (IBM, Financial).
He reduced Berkshire’s positions in Ingersoll Rand (IR), Procter & Gamble (PG), Kraft Foods Inc. (KFT), Dollar General (DG), Intel Corp. (INTC) and Verisk Analytic (VRSK). He sold out of Comdisco Holding (CDC).
New Buys
General Motors (GM)
Buffett bought 10 million shares of General Motors (GM) at an average price of $25 per share. The stock price has declined 11% since then.
General Motors Company is engaged in the designing, manufacturing and retailing of vehicles globally including passenger cars, crossover vehicles, and light trucks, sport utility vehicles, vans and other vehicles. General Motors has a market cap of $34.45 billion; its shares were traded at around $22.3 with a P/E ratio of 5.7 and P/S ratio of 0.2.
Viacom Inc. Class B (VIAB)
Buffett bought 1,591,670 shares at an average price of $48. The stock price has declined 2% since then.
Viacom is a global entertainment content company whose family of prominent and respected brands includes the multiplatform properties of MTV Networks, BET Networks, Paramount Pictures, Paramount Home Entertainment and DreamWorks. Viacom Inc. Cl B has a market cap of $23.31 billion; its shares were traded at around $46.99 with a P/E ratio of 11.7 and P/S ratio of 1.6. The dividend yield of Viacom Inc. Cl B stocks is 2.1%. Viacom Inc. Cl B had an annual average earnings growth of 45.2% over the past five years.
Additions
Bank of New York Mellon (BK)
Buffett added 3,813,551 shares of Bank of New York Mellon (BK) at an average price of $22. He initiated the position with 1,992,759 shares at an average price of $25 in the third quarter of 2010, and sold 198,844 shares at an average price of $28. At the end of the first quarter, Buffett owned a total of 5,607,466 shares.
Bank of New York Mellon is a bank holding company and one of the world's larger financial institutions. Bank of New York Mellon has a market cap of $26.63 billion; its shares were traded at around $21.12 with a P/E ratio of 10.4 and P/S ratio of 1.8. The dividend yield of Bank of New York Mellon stocks is 2.3%.
Davita Inc. (DVA)
Buffett added 3,315,500 shares of Davita Inc. (DVA) at an average price of $84. In the fourth quarter of 2011 he bought 2,684,500 shares at an average price of $71. At the end of the first quarter of 2012, he owned a total of 6 million shares.
DaVita Inc. is one of the largest providers of high-quality dialysis and related services for patients suffering from chronic kidney failure, also known as end stage renal disease. Davita Inc. has a market cap of $7.77 billion; its shares were traded at around $82.23 with a P/E ratio of 14.6 and P/S ratio of 1.1. Davita Inc. had an annual average earnings growth of 17.8% over the past 10 years. GuruFocus rated Davita Inc. the business predictability rank of 3.5-star.
Liberty Media (LMCA)
Buffett added 1,298,600 shares of Liberty Media (LMCA) at an average price of $86. He initiated the position with 1,701,400 shares at an average price of $75. At the end of the first quarter of 2012, he owned 3 million shares.
Liberty Media Corporation owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Liberty Media has a market cap of $9.98 billion; its shares were traded at around $84.43 with a P/E ratio of 56 and P/S ratio of 7.1.
Walmart Stores (WMT)
Buffett bought 7,671,000 shares of Walmart at an average price of $61. He initiated the position in the third quarter of 2009 with 17,892,342 shares at an average price of $50, and bought 1,200,500 shares in the fourth quarter of 2009 at an average price of $53. At the end of the first quarter of 2012, he owned 46,708,142 shares.
Walmart Stores Inc. is the world's largest retailer. Walmart Stores has a market cap of $202.07 billion; its shares were traded at around $59.35 with a P/E ratio of 13.3 and P/S ratio of 0.5. The dividend yield of Walmart Stores stocks is 2.7%. Walmart Stores had an annual average earnings growth of 11.3% over the past 10 years. GuruFocus rated Walmart Stores the business predictability rank of 5-star.
DirecTV (DTV)
Buffett bought 2,651,200 shares of DirecTV (DTV) at an average price of $46. He initiated the position in the third quarter of 2011 with 4,249,400 shares at an average price of $46, and added 16,099,000 shares at an average price of $45 in the fourth quarter of 2011. At the end of the first quarter of 2012, he owned 22,999,600 shares.
DirecTV is a provider of digital multichannel television entertainment in the United States and Latin America. DirecTV has a market cap of $32.19 billion; its shares were traded at around $46.99 with a P/E ratio of 12.9 and P/S ratio of 1.2. DirecTV had an annual average earnings growth of 33.4% over the past 10 years. GuruFocus rated DirecTV the business predictability rank of 2.5-star.
Wells Fargo (WFC)
Buffett added 10,631,300 shares of Wells Fargo (WFC) at an average price of $31. It is a long-term holding. At the end of the first quarter of 2012, Buffett owned 394,334,928 shares.
Wells Fargo & Co. is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through stores, its Internet site and other distribution channels across North America as well as internationally. Wells Fargo has a market cap of $175.8 billion; its shares were traded at around $32.24 with a P/E ratio of 11.5 and P/S ratio of 2. The dividend yield of Wells Fargo stocks is 2.6%. Wells Fargo had an annual average earnings growth of 2.2% over the past 10 years. GuruFocus rated Wells Fargo the business predictability rank of 2-star.
IBM (IBM)
Buffett bought 489,769 shares of IBM at an average price of $195 per share. He initiated the position in the first quarter of 2011 at an average price of $159. At the end of the first quarter of 2012, he owned 64,395,700 shares.
IBM uses advanced information technology to provide customer solutions. IBM has a market cap of $233.09 billion; its shares were traded at around $199.3 with a P/E ratio of 14.5 and P/S ratio of 2.2. The dividend yield of IBM stocks is 1.7%. Intl Bus Mach had an annual average earnings growth of 11.8% over the past 10 years. GuruFocus rated IBM the business predictability rank of 4.5-star.
See Warren Buffett’s equity portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Warren Buffett.
