Is Wells Fargo Still a Warren Buffett Stock?
For several quarters now, Berkshire Hathaway has been trimming its position in Wells Fargo (NYSE: WFC), a stock once beloved by chairman and CEO Warren Buffett. At the end of 2019, Berkshire owned more than 323 million shares of the bank, valued at roughly $17.4 billion. After the third quarter of 2020, it had whittled its position down to roughly 127 million shares, a stake that would currently be worth about $4.4 billion.
With Berkshire Hathaway apparently losing confidence in the bank, is Wells Fargo still a Warren Buffett stock? It's complicated.
It's hard to really know what's going on inside Buffett's mind. But at his core, he's a value investor, meaning he generally looks for stocks that seem underpriced relative to their intrinsic value.
Source Fool.com
