The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,733.50
Bid: 1,732.50
Ask: 1,733.00
Change: 5.00 (0.29%)
Spread: 0.50 (0.029%)
Open: 1,733.00
High: 1,739.50
Low: 1,724.50
Prev. Close: 1,728.50
GSK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 3-Buffett's Berkshire buys Suncor, Dish as stock bet grows

Thu, 15th Aug 2013 16:59

* Berkshire adds to Wells Fargo, GM; slashes Kraft, Mondelez

* Some investments kept confidential

* Suncor shares rise after Berkshire reveals stake

By Jonathan Stempel and Tanya Agrawal

Aug 15 (Reuters) - Berkshire Hathaway Inc reported new stakes in Suncor Energy Inc and DishNetwork Corp as the company run by Warren Buffett addedbillions of dollars of stock investments.

The changes were disclosed in a U.S. Securities and ExchangeCommission filing made public on Thursday, which detailed $89billion of Berkshire equity investments, mostly listed on U.S.exchanges, as of June 30.

U.S. regulators require large investors to disclose theirstock holdings every quarter, and the disclosures can offer awindow into their strategies for buying and selling stocks.

Berkshire took a 17.8 million-share stake in Calgary-basedSuncor, which is Canada's biggest oil and gas producer and has alarge presence in the Alberta oil sands. That stake was valuedat $524 million at the end of the second quarter.

It also reported a small, 547,312-share stake in Dish, thesatellite TV company run by billionaire Charlie Ergen, valued at$23.3 million on June 30.

Suncor spokeswoman Kelli Stevens declined to comment, sayingthe company does not typically discuss individual investors'holdings. Dish spokesman Bob Toevs also declined to comment.

Shares of companies often rise after Berkshire disclosessizable new investments because investors try to copy Buffett,the world's fourth-richest person according to Forbes magazine.

In afternoon trading, Suncor shares were up 68 cents, or 2percent, at C$34.47. Dish shares were down 29 cents at $44.47.

David McColl, a Morningstar Inc equity analyst in Chicago,said a shortage of pipelines has forced Suncor and rivals tomove more products by rail, but that Suncor has indicated anability to address this problem in the next one to five years.

"Suncor is one of the most heavily undervalued Canadianintegrated oil producers," he said. "It is no surprise that avalue investor like Berkshire Hathaway would view it as aphenomenal investment opportunity."

Berkshire has benefited this year from Buffett's preferencefor investments in businesses and stocks over fixed income,which has been under pressure from rising interest rates.

The Omaha, Nebraska-based company's book value per share,Buffett's preferred measure of growth, grew 7.6 percent fromJanuary to June.

Its largest stock holding, Wells Fargo & Co, grew1.1 percent in the second quarter to 463.1 million shares, equalto a $19.1 billion stake in the fourth-largest U.S. bank.

CONFIDENTIAL TREATMENT

Berkshire spent $4.64 billion on stocks in the quarter. While Buffett has said he makes Berkshire's largest investments,some investments are made by portfolio managers Todd Combs andTed Weschler, who oversee several billion dollars each.

Thursday's filing did not say who bought what, but said thatsome holdings were reported confidentially to the SEC.

Buffett sometimes gets SEC permission to amass big positionsquietly so he need not worry about copycat investors. One ofBerkshire's top holdings, a $13 billion stake in InternationalBusiness Machines Corp, was built in this manner.

Earlier this month, Berkshire said it ended June with $101.9billion of equity securities overall. Its top four holdings -Wells Fargo, Coca-Cola Co, IBM and American Express Co - were worth more than $59 billion as of June 30.

Berkshire also owns more than 80 businesses in such areas asinsurance, railroads, utilities, chemicals, apparel and food.

In recent months, it bought half of ketchup maker H.J. HeinzCo and made several smaller acquisitions.

On Wednesday, its HomeServices of America Inc unit, thesecond-largest U.S. full-service residential real estatebrokerage, said it bought real estate service companiesPrudential Fox & Roach and Trident Group for undisclosed prices.

KRAFT, MONDELEZ SLASHED

During the quarter, Berkshire added to stakes in Bank of NewYork Mellon Corp, automaker General Motors Co,oilfield equipment provider National Oilwell Varco Inc,US Bancorp and Verisign Inc, which assignsInternet protocol addresses. The GM share stake grew 60 percent.

Berkshire slashed its stakes in food companies Kraft FoodsGroup Inc and Mondelez International Inc by 88percent and 92 percent, respectively, and shed its stake innewspaper and broadcasting company Gannett Co.

It also reported lower stakes in drugmaker GlaxoSmithKlinePlc and credit rating company Moody's Corp.

The SEC filing was to have been made public on Wednesday,but the release was delayed by a glitch in the regulator'sfiling system. An assistant to Buffett said Berkshire submittedthe filing prior to Wednesday's deadline.

In afternoon trading, Berkshire's Class A shares were down1.2 percent at $172,711, and its Class B shares were down 1.3percent at $115.08.

More News
20 Feb 2024 15:10

PRESS: AJ Bell founder to join Applied Nutrition ahead of IPO - Sky

(Alliance News) - Supplements maker Applied Nutrition, plotting a London stock market float, is to add AJ Bell PLC founder Andy Bell as its chair, Sky News reported on Tuesday.

Read more
20 Feb 2024 08:55

IN BRIEF: Diageo welcomes GSK's CFO as non-executive director

Diageo PLC - London-based brewer and distiller sells more than 200 drinks brands, including Guinness stout, Captain Morgan rum and Johnnie Walker whisky - Appoints GSK PLC's chief financial officer and executive director, Julie Brown, as a non-executive director. Says she will succeed Alan Stewart as chair of the audit committee after his retirement following the firm's annual general meeting in September. Chair Javier Ferran says: "Julie brings many years of experience in financial, commercial and strategic roles in international companies operating in highly regulated industries. She is strongly committed to enabling diversity in business and to creating sustainable, long-term value for stakeholders. I look forward to her contribution to Board discussions and to working with her in progressing Diageo's ambition to be one of the most trusted and respected consumer products companies in the world."

Read more
15 Feb 2024 14:44

UK dividends calendar - next 7 days

Friday 16 February 
JPMorgan Asia Growth & Income PLCdividend payment date
JPMorgan Japan Small Cap Growth & Income PLCdividend payment date
Murray International Trust PLCdividend payment date
Premier Miton Group PLCdividend payment date
Schroder Oriental Income Funddividend payment date
Solid State PLCdividend payment date
Monday 19 February 
no events scheduled 
Tuesday 20 February 
Invesco Bond Income Plus Ltd 
Wednesday 21 February 
no events scheduled 
Thursday 22 February 
abrdn Asia Focus PLCex-dividend payment date
Alumasc Group PLCex-dividend payment date
AstraZeneca PLCex-dividend payment date
BlackRock Throgmorton Trust PLCex-dividend payment date
Braemar PLCex-dividend payment date
easyJet PLCex-dividend payment date
Ecofin US Renewables Infrastructure Trust PLCex-dividend payment date
Endeavour Mining PLCex-dividend payment date
FRP Advisory Group PLCex-dividend payment date
Gateley Holdings PLCex-dividend payment date
GSK PLCex-dividend payment date
Hercules Site Services PLCex-dividend payment date
Jersey Electricity PLCex-dividend payment date
Land Securities Group PLCex-dividend payment date
Molten Ventures VCT PLCex-dividend payment date
Northern Bear PLCex-dividend payment date
Redrow PLCex-dividend payment date
Samuel Heath & Sons PLCex-dividend payment date
Titon Holdings PLCex-dividend payment date
Unilever PLCex-dividend payment date
Van Elle Holdings PLCex-dividend payment date
Virgin Money UK PLCex-dividend payment date
Witan Investment Trust PLCex-dividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
15 Feb 2024 11:02

Berenberg hikes target price on GSK

(Sharecast News) - Analysts at Berenberg hiked their target price on drugmaker GSK from £16.50 to £18.20 on Thursday, stating the group was moving closer to offsetting losses associated with the expiry of its patent on HIV drug dolutegravir.

Read more
15 Feb 2024 09:45

LONDON BROKER RATINGS: Jefferies cuts Kingfisher but Citi raises

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
15 Feb 2024 08:49

GSK completes USD1.4 billion purchase of respiratory firm Aiolos Bio

(Alliance News) - GSK PLC on Thursday said it has completed the acquisition of Aiolos Bio Ltd, expanding its respiratory portfolio with a potential "best-in-class" asthma treatment.

Read more
13 Feb 2024 16:53

LONDON MARKET CLOSE: Stocks in red amid sticky US inflation data

(Alliance News) - Stock prices in London closed in the red on Tuesday, after a key US inflation reading came in hotter-than-expected.

Read more
13 Feb 2024 16:21

London close: Stocks fall as US inflation tops expectations

(Sharecast News) - London markets ended the trading day in negative territory on Tuesday, influenced by concerns over higher inflation figures from the United States and a deceleration in wage growth within the UK.

Read more
13 Feb 2024 16:21

London close: Stocks fall as US inflation tops expectations

(Sharecast News) - London markets ended the trading day in negative territory on Tuesday, influenced by concerns over higher inflation figures from the United States and a deceleration in wage growth within the UK.

Read more
13 Feb 2024 12:06

LONDON MARKET MIDDAY: Stocks fall but pound up before US data

(Alliance News) - Stock prices in London were on the decline on Tuesday afternoon, with sentiment tetchy ahead of a US inflation report later.

Read more
13 Feb 2024 09:45

Citi ups recommendation on GSK to 'buy'

(Sharecast News) - Citi has upgraded its rating on vaccines and drugs blue chip GSK to 'buy' while also boosting its earnings estimates.

Read more
13 Feb 2024 09:32

LONDON BROKER RATINGS: Citi lifts GSK; Shore likes XPS Pensions

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
13 Feb 2024 07:45

LONDON BRIEFING: "Record" Tui quarter; Ultimate Products eyes payouts

(Alliance News) - London's FTSE 100 is to open ever-so-slightly lower on Tuesday, with trade set to be nervy ahead of the afternoon's US inflation data.

Read more
12 Feb 2024 17:11

London close: Stocks finish higher after very quiet Monday

(Sharecast News) - London markets managed modest gains by the close of a subdued trading session on Monday, with no significant corporate or economic catalysts driving movements.

Read more
12 Feb 2024 12:04

LONDON MARKET MIDDAY: FTSE 100 underperforms as European peers rise

(Alliance News) - London's FTSE 100 underwhelmed on Monday, with some of its largest constituents pulling it lower, while indices in Europe were on the up on favourable comments on interest rate cuts by a European Central Bank official.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.