Warren Buffett of the legendary Berkshire Hathaway sold several of his holdings. Here are three positions he exited or reduced in 2014.
Buffett sold 24.5% of his position in Liberty Media (LMCA) which now comprises 0.2% of his portfolio at 4 million shares. The company has seen relatively show earnings growth compared to historical standards. Earnings per share was down an astounding 45% compared to last year. Gross profit margin is strong and debt is low, but the company has declined on various metrics.
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Warren Buffett reduced his stake in DirecTV (DTV) 32% to 23. 5 million shares. DirecTV comprises 1.9% of his portfolio. The stock has risen and was performing well, but its cash flow has not been robust.
Phillips 66 (PSX) is a stock holding Buffett reduced by 33.6% to 6.5 million shares. The stock price has grown 42% and its growth is greater than the industry average of 2.6%.
