Berkshire Hathaway Accelerates Buybacks to $5B-$11B in Q2, Barron's Estimates
BRKA is trading near its 52-week low of $685,150.001 (7.4% above the low).
Summary
Berkshire Hathaway appears to have sharply increased stock repurchases in Q2, with Barron's estimating $5B to $11B based on Warren Buffett's July 14 filing showing his stake at 13.2% of shares outstanding. That implies a reduction of over 11,000 A-share equivalents since April 14, a stark contrast to the mere $235M bought back in Q1 and none in early April. The accelerated buybacks come as the stock trades at about 1.4x book value, near the lower end of its recent range, and with nearly $400B in cash on hand. This follows a period of investor disappointment over tepid repurchases and could signal management's view that shares are undervalued. Official Q2 buyback figures are expected around Aug. 1 with the earnings report.
At the time of this announcement, BRKA was trading at $736,080.00 on NYSE in the Finance sector, with a market capitalization of approximately $1.1T. The 52-week trading range was $685,150.00 to $775,000.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.