All the moves were made public in a 13F filing released on August 15 after the market closed. The filing showed that Berkshire was busy buying and increasing its stakes in Ally Financial (NYSE: ALLY), Occidental Petroleum (NYSE: OXY), Activision Blizzard (NASDAQ: ATVI), Markel (NYSE: MKL), and McKesson (NYSE: MCK) and exited stakes in Verizon (NYSE: VZ) and Royalty Pharma (NASDAQ: RPRX) during Q2.
Buffett increased his stake in ALLY, the auto lender and online bank, to roughly 30 million from the 800,000 shares shown during the last filing. Additionally, Berkshire’s holdings in ATVI, a video game production company, increased to roughly 68.4 million shares from the previously held 64.3 million shares.
Furthermore, the purchase of ALLY and ATVI represented Buffett’s latest moves in the first half of the year.
ALLY chart and analysis
ALLY has been trading in the $31.68 to $36.27 range in the last month, seeing a positive short-term trend. ALLY is an average performer in the Consumer Finance industry, and it outperforms 40% of 54 stocks in the same niche.
Analysts on Wall Street rate the shares a ‘strong buy,’ seeing the average 12-month price reaching $46.38, 30.03% higher than the current trading price of $35.67.
ATVI chart and analysis
Elsewhere, ATVI is currently trading in the upper part of its 52-week range, with both the short-term and long-term trends looking positive. Over the past month, the trading range was between $77.18 and $81.31.
For traders looking to make an entry the support zone is between $78.19 and $80.71, and the resistance zone is from $81 to $82.31.
TipRanks analysts see the shares as a ‘moderate buy,’ predicting that the average 12-month price could reach $93.43, 15.73% higher than the current trading price of $80.73.
Due to Buffett’s reputation and often clairvoyant approach to the markets, investors often track every move he makes, intending to copy him from time to time.
During Q2, Berkshire spent roughly $6.2 billion compared to $51 billion in Q1; regardless, Buffett’s activity can instill confidence in market participants as they see one of the greatest investors bet on the markets yet again.
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