(Reuters) - Warren Buffett and Berkshire Hathaway ( BRK/A ) extended their retreat from stocks in the third quarter, selling more Apple ( AAPL ) shares and boosting cash to a record $325.2 billion, while the company's operating profit declined.

In its quarterly report on Saturday, Berkshire said it sold about 100 million Apple ( AAPL ) shares, on top of several billion dollars of Bank of America ( BAC ) shares.

Berkshire repurchased none of its own stock in the quarter, suggesting that Buffett doesn't view even his own company's shares as a bargain.

Operating profit from Berkshire's dozens of businesses such as the BNSF railroad and Geico car insurance fell 6% to $10.09 billion, or about $7,019 per Class A share, from $10.76 billion a year earlier.

Net income totaled $26.25 billion, or $18,272 per Class A share, compared with a loss of $12.77 billion, or $8,824 per share, a year earlier when falling stock prices reduced the value of Berkshire's investments.