Meet the Dividend Stock That Warren Buffett Backed for Decades. Here's Why It Just Hit an All-Time High Under Greg Abel.
The reasons Buffett loves it are the same reasons the market is loving it right now.
Overview
Warren Buffett has been clear about his favorite stocks in recent years. He keeps returning to the same handful of names, three of which were Berkshire Hathaway's (NYSE: BRKA)(NYSE: BRKB) largest positions under his tenure.
One of them is the equity portfolio's longest-held position, and Greg Abel is holding on to it as he leads the company into the artificial intelligence (AI) era: Coca-Cola (NYSE: KO). (For the curious, the other two large positions are Apple and American Express, and the fourth that has been mentioned at times is Moody's.)
Details
Let's go back to the very first time Buffett bought Coca-Cola stock, in 1988, when he explained why he wants to own it. For outstanding businesses with outstanding management, he wrote, "our favorite holding period is forever."
Source
Originally published at www.fool.com.