Buffett Sells More Moody's Shares
Berkshire Hathway sold just over 1.35 million shares between Sept. 10 and 14, according to a Securities and Exchange Commission filing, reducing its stake to 29.43 million shares. There were three sales executed at prices of $25.10, $25.19 and $25.22 per share, for total proceeds of $33.97 million.
Berkshire's remaining stake is still a hefty 12.6% of Moody's, according to Reuters, down from 13.2% before the sales. Berkshire held close to 20% between 2000 and July 2009, when it began reducing its stake, despite Buffett defending credit rating agencies, during a Financial Crisis Inquiry Commission hearing, for failing to spot the U.S. mortgage bubble that sparked the financial crisis.