Warren Buffett’s Berkshire Hathaway revealed on Wednesday that it has purchased nearly 121 million shares of HP Inc.

Shares of the personal computing and printing company rose nearly 10% in after-hours trading.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Berkshire made the purchase this week during a series of transactions, according to Reuters.

The investment gives Berkshire a roughly 11.4% stake in HP, worth about $4.2 billion. Shares closed Wednesday at $34.91.

Berkshire disclosed the stake in filings with the U.S. Securities and Exchange Commission.

WARREN BUFFETT’S BERKSHIRE HATHAWAY TO BUY ALLEGHANY FOR $11.6B

Neither HP nor Berkshire immediately responded to requests from Reuters for comment.

Berkshire has been on a buying spree of late, making HP its third investment since Feb. 26.

The company increased its insurance holdings on March 21, buying Alleghany Corp for $11.6 billion in cash.

BUFFETT LAMENTS LACK OF GOOD INVESTMENTS EVEN AS BERKSHIRE PROFIT SETS RECORD

Also in March, Berkshire revealed a 14.6% stake in Occidental Petroleum Corp, which cost well over $6 billion.

CLICK HERE TO READ MORE ON FOX BUSINESS

Buffett’s company had been stockpiling cash, not making a major acquisition in six years.

Source By: https://www.foxbusiness.com/markets/buffetts-berkshire-reveals-stake-in-hp-shares-surge-almost-10