The first is "cash is king." Buffett enjoys investing in companies with strong earnings. Secondly, he's a value-seeking investor. Verizon seems to tick both of these boxes and can also be considered a provider of essential services, which makes it suitable for both value and dividend investors.

Does Buffett still own Verizon?

According to the fourth-quarter report, at the end of 2020, Berkshire owned 147 million shares in Verizon Communications (NYSE:VZ). This position was worth just over $8.6 billion to the conglomerate at the end of the year.

How much did Warren Buffett pay for Verizon?

Verizon climbs 4% after Warren Buffett reveals nearly $9 billion investment. Verizon rose as much as 3.8% on Wednesday after Warren Buffett's Berkshire Hathaway revealed a new stake in the telecom firm.