Berkshire Hathaway , run by billionaire Warren Buffett, extended its selling of Bank of America shares, and has shed more than $3.8 billion of the second-largest U.S. bank's stock since mid-July.
Recent regulatory filings made by Berkshire Hathaway (NYSE: BRK-A , NYSE: BRK-B ) revealed that the holding company reduced its stake in Bank of America (NYSE: BAC ) for the first time since 2019. Even the most favored of Warren Buffett stocks aren't immune from a little profit-taking.
Warren Buffett often doesn't stop selling until he has fallen beneath the 10% reporting threshold—or is out of the stock completely.
Bank of America exceeded Wall Street estimates in the second quarter, sending shares immediately higher. Berkshire Hathaway started trimming its position in the bank stock.
Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) has once again made headlines by significantly trimming its stake in one of its long-standing investments, Bank of America (NYSE: BAC).
Warren Buffett's Berkshire Hathaway (BRK.A,BRK.B) sold more shares of Bank of America (BAC) over the last week, extending Berkshire's pullback from one of its biggest bets after a runup in the bank's stock price.
Buffett's Berkshire Hathaway first invested in the bank in 2011 amid the fallout from the 2008 financial crisis.
Warren Buffet's investment firm Berkshire Hathaway Inc (NYSE:BRK.A) has sold more Bank of American stock, bringing its sales to more than $3 million this month. The firm has been securing profits after the US bank's shares have added more than 20% in the year to date, closing at about $41 per share on Monday.
Warren Buffett's company has reduced its stake for nine consecutive trading days.
Warren Buffett's Berkshire Hathaway sold more Bank of America shares, boosting sales to more than $3 billion this month, taking profits after a big run-up in the second-largest U.S. bank's stock price.
Berkshire Hathaway trimmed its Bank of America position for the first time since 2019. Rising interest rates have Bank of America sitting on $115 billion in unrealized losses.
Warren Buffett-led Berkshire Hathaway, Inc. BRK BRK is shaving off its ownership interest in Bank of America Corp.'s BAC, one of its core holdings, and on Monday the investment holding firm disclosed the third sale for the month.