Berkshire Hathaway's reports $900 million stake in Amazon (AMZN)

NASDAQ: AMZN |, Inc. News, Ratings, and Charts

AMZN – In a filing with the SEC, Berkshire reported owning 483,300 shares in the e-commerce and cloud-computing powerhouse.

Berkshire Hathaway Inc.’s BRK.A, +1.60% stake in Inc.AMZN, +2.27% which Berkshire Chairman Warren Buffett described as “One of the fellows in the office … bought some Amazon,” is worth more than $900 million, according to a Wednesday filing. In a filing with the Securities and Exchange Commission, Berkshire reported owning 483,300 shares in the e-commerce and cloud-computing powerhouse, which was worth $904.3 million at Amazon’s closing price of $1,871.15. Berkshire has largely avoided young technology companies and instead jumped into mature tech companies like IBM Corp. IBM, +0.86% and Apple Inc. AAPL, +0.10% when Buffett sees value. Inc. shares were trading at $1,911.56 per share on Thursday morning, up $40.41 (+2.16%). Year-to-date, AMZN has gained 27.27%, versus a 15.89% rise in the benchmark S&P 500 index during the same period.

AMZN currently has a POWR Rating of B (Buy), and is ranked #5 of 56 stocks in the Internet category.

This article is brought to you courtesy of MarketWatch.

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