Airlines are rallying after Warren Buffett loads up

17 February, 2017, 00:10 | Author: Alicia Barber
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Regulatory filings in the U.S. show his Berkshire Hathaway holding company quadrupled its stake in Apple from 15.2 million shares to 57.4 million.

In a filing with regulators, Berkshire posted ownership of 57.3 million Apple shares as of December 31, which would be worth at this time more than $7.74 billion, which is up from its 15.2 million Apple shares from the prior quarter. He also laid out an argument against investing in airlines again in Berkshire's 2007 annual letter. Buffett always remains away from airlines shares as he always found the airlines business not worth investing, but in Q4 Berkshire has added stocks of four major airlines of the United States and has brought the holdings to almost seven times of what it had at the end of Q3.

Separately, Argus assumed coverage on Berkshire Hathaway in a report on Tuesday, January 3rd.

Teva Pharmaceutical Industries Limited (TEVA) Issues FY17 Earnings Guidance
The institutional investor owned 126,484 shares of the company's stock after buying an additional 6,100 shares during the period. Sharkey Howes & Javer raised its stake in shares of Teva Pharmaceutical Industries Limited by 21.7% in the second quarter.

Buffett's rising interest in Apple does come as a surprise, considering his reluctance towards technology stocks, which, according to him, are outside his zone of competence, except for International Business Machines Corp. But it may still be a stock worth buying now, at least if you take Warren Buffett's word for it.

"We are increasingly confident in the outlook for Apple's iPhone 8 cycle" Goldman Sachs analyst Simona Jankowski wrote in a research report this week. Still, UBS analysts say the price gain is deserved due in large part to the high retention rates among iPhone buyers. The company presently has an average rating of "Buy" and a consensus target price of $167.06.

EPS growth for this year is 2.80% and EPS growth for next year is expected to reach at 10.50%. Apple sold 5% fewer iPhones year-over-year during the three months that ended in September, the final quarter of its 2016 fiscal year. (A release date hasn't been announced.) Analysts believe the new smartphone will set sales records as it prompts users to upgrade from older iPhones.

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