Warren Buffett's Berkshire Hathaway buys Teva, sells 94% of its IBM stake

Warren Buffett’s Berkshire Hathaway on Wednesday disclosed a new stake in drugmaker Teva Pharmaceutical Industries Ltd and said it bought more shares of Apple, which surpassed Wells Fargo & Co as its largest common stock investment.

Berkshire also nearly completed its yearlong exit from International Business Machines Corp (IBM), selling more than 94 per cent.

In a filing detailing its US-listed stock holdings, Berkshire reported owning about 18.9 million Teva American depositary receipts, worth about $358 million. Teva shares rose more than 10 per cent after market hours, reflecting what investors perceive as Berkshire’s seal of approval for the drugmaker. Berkshire said