Warren Buffett speaks at Berkshire Hathaway’s annual shareholder meeting on May 4, 2024 in Omaha, Nebraska.
CNBC
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This summer, Warren Buffett added about $6 billion to Berkshire Hathaway’s massive cash pile through a series of measures. Bank of America Inventory sales begin in mid-July.
according to a New submissions on FridayA total of 21.1 million shares were sold on Wednesday, Thursday and Friday, generating $848.2 million in revenue at an average price of $40.24.
Berkshire Bank of America shares have been sold for six consecutive trading days. Since the reduction began on July 17, the stock has been reduced in 21 of the past 33 trading days.
In total, Berkshire reduced its holdings in Bank of America by 14.5%, selling 150.1 million shares for $6.2 billion. Average earnings per share were $41.33.
Bank of America is Berkshire’s third largest holdingaccounting for approximately 11% of its portfolio.
Berkshire still exists Bank of America’s largest shareholder Holds 11.4% of 882.7 million shares worth nearly $36 billion.
However, as the sales continue, it is approaching Vanguard’s 639 million shares.
Although there are several theories Why Berkshire is selling stocks that Buffett says Just like last year, he doesn’t want to sell.Despite his concerns about the banking industry as a whole, Omaha has so far offered no explanation.
Buffett turns 94 on Friday. As of June 30, Berkshire’s cash reserves reached a record $277 billion.
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