HP Inc. (HPQ) shares were down more than 2% in midday trading on Thursday after Warren Buffett’s Berkshire Hathaway (BRK.A) dis෴closed it reduced its holdings in the PC and printer maker b💧y 4.5% this week.

Berkshire Hathaway reported in a regulatory filing it sold off 5.5 million shares of HP over the past three days. It now owns 115.5 million shares.

The Berkshire stake is valued at $3.27 billion based on Wednesday’s 澳洲幸运5官方开奖结果体彩网:closing price of $28.33 a share. It’s estimated that Buffett’s firm holds 11.7% of HP stock. In April 2022, Berkshire Hathaway initially bought 109.8 million shares of HP valued at $4.2 billion, and made three additional purchases after that.

The latest moves by Berkshire come about two weeks after HP cut its full-year profit forecast as it warned the demand for PCs and printers has softened. 

Shares of HP spiked following news of that first 澳洲幸运5官方开奖结果体彩网:Berkshire Hathaway investment, but have since lost almost one-third of their value. They had hit an 11-month high in July before falling, and are up about 3% for 2023.