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Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) has sold off a significant portion of its holdings in DaVita Inc. (NYSE:DVA), a leading dialysis service provider, just before the latter’s Q2 earnings report.
According to a regulatory filing late Monday, Berkshire Hathaway sold approximately 1.64 million shares of DaVita Inc. on July 31, at an average price of $140.61 per share, totaling around $230 million, as reported by investing.com
The sale reduces Berkshire's holdings to 32,160,579 shares, held across subsidiaries including Government Employees Insurance Company and various pension plans.
While Buffett is listed as a director and 10% owner, he “disclaimed beneficial ownership except for his pecuniary interest,” the filing stated.
This isn't the first reduction this year. In February, Berkshire sold 750,000 shares and also participated in a DaVita share buyback deal.
Despite the selloff, analysts remain upbeat. Koyfin projects second-quarter revenue of $3.36 billion, up 4.3% year-over-year, with adjusted earnings per share expected to rise to $2.75 from $2.00 a year ago. EBITDA is also expected to grow to $707.9 million, reflecting a 15% year-over-year increase.
Earlier in June, it was reported that Buffett's iconic investment in Coca-Cola Co. (NYSE:KO), which began in 1988 following the stock market crash, showcases the power of long-term investing. Through Berkshire Hathaway, Buffett accumulated 400 million shares, now valued at over $25 billion.
More impressively, Coca-Cola's steady dividend payments are projected to earn Berkshire $816 million in 2025, translating to roughly $2.23 million per day or $93,000 every hour. The stake makes up over 10% of Berkshire's portfolio and 8% of Coca-Cola's outstanding shares.
In July, Buffett made a notable shift in strategy by investing $459 million in Sirius XM (NASDAQ:SIRI), following the sale of his stakes in Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC).
Through Berkshire Hathaway, Buffett acquired around 20 million shares of Sirius between Q3 2024 and Q1 2025, bringing his total holdings to 120 million shares worth $2.9 billion.
Despite revenue and subscriber declines, Buffett appears confident in the company's strong brand and recurring revenue model for long-term growth.
Price Action: DaVita shares have fallen 21.11% over the last six months and are down 6.87% year-to-date, according to Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
