Buffett amasses substantial WellPoint stake

Warren Buffett likes WellPoint.

Buffett’s Berkshire Hathaway Inc. this week revealed it has amassed nearly 980,000 shares in WellPoint Inc., the Indianapolis-based health benefits firm, according to Reuters.

Berkshire’s stake is worth about $82 million.

Shares of companies often rise after Berkshire discloses investment in them. Buffett, the second-richest man in America, looks for stable, straightforward, industry-leading companies whose shares appear to be undervalued.

Berkshire also reported higher stakes in two other companies in health care, Johnson & Johnson and France’s Sanofi-Aventis.

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