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Warren Buffett Sells More Moody's After Stock Rebounds

Published: Sunday, 1 Nov 2009 | 10:02 PM ET
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By: Alex Crippen
Executive Producer

Warren Buffett's Berkshire Hathaway unloaded just over one million more shares of Moody's last week after the credit rating agency's stock price rebounded to the mid-$20s.

According to an SEC filing late Friday, Berkshire sold a total of 1,152,627 shares on Wednesday, October 28 and Thursday, October 29.  The average price was $24.87, raising $28.7 million for Berkshire.

Berkshire Hathaway remains Moody's largest shareholder, with 38,066,685 shares.  That's a stake of 16.1 percent, down from the 16.6 percent it held as of early September.

The latest sales are larger than the almost 800,000 share reduction in the first days of September, but much smaller than the roughly eight million shares sold in late July.

  Berkshire's Reported Moody's Sales
DateShares SoldPrice/ShareTotal Price
July 201,817,000$28.7269$52,196,777
July 213,915,100$26.9188$105,389,794
July 222,254,200$26.6425$60,057,524
September 1366,761$26.8104$9,833,009
September 1421,127$27.5988$11,622,600
September 26,500$26.3246$171,110
October 281,133,027$24.8637$28,171,243
October 2919,600$25.2728$495,347
TOTAL9,933,315$26.97$267,937,404

All the sales, including the latest round, came when Moody's stock price has been in the mid to high $20s.  Shares slid sharply in late September, falling from a close of $25.92 on September 16 to a closing low of $18.77 on September 28.  An October rebound brought them back a near-term closing high of $25.58 on October 22. 

Current Berkshire stock prices:
Berkshire Portfolio

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