Lilly Endowment Inc. Reduces Stake in Eli Lilly and Co.

credit:

Warren Buffett's Berkshire Hathaway has a big stake in Eli Lilly and Co.

(NYSE: LLY), and it's about to shrink.

The company said in a regulatory filing that Buffett's company, Berkshire Hathaway Inc., reduced its stake in the company by 2.2 million shares, or 0.4%, on Sept.

30, reports the Wall Street Journal.

The shares were sold at a price of $555.32 each, leaving Buffett's Berkshire Hathaway Inc.

with a stake of about 10.66% of the company, down from 117.49% at the end of the second quarter.

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