Warren Buffett's Berkshire Hathaway has trimmed its stake in Bank of America once again, making the total sales since mid-July nearly $7 billion.
Although abstaining from selling Bank of America (NYSE: BAC) stock during the second quarter, as revealed in his updated portfolio, Warren Buffett, CEO of Berkshire Hathaway (NYSE: BRK.A), has sold almost $7 billion worth of this stock since the end of Q2.
Warren Buffett's conglomerate has sold shares of the financial isntituion for nine straight days.
Berkshire Hathaway began liquidating its big stake in the banking company in mid-July—and has already unloaded about 15% of its interest.
A whistleblower complaint has alleged that Bank of America shared nonpublic information with some investors before it sold stock in India, the Wall Street Journal reported on Thursday.
Bank of America (BAC) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Buffett bought seven stocks for Berkshire Hathaway in Q2 and added to another existing position in August. Several of the stocks can be ruled out for income investors through a process of elimination.
Warren Buffett loves stocks that pay him dividends though he steadfastly refuses to allow Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) to reward its shareholders.
Warren Buffett is slashing his stake in Bank of America stock. Let's analyze what should be investors' take on this.
Since the dawning of its Depression-era San Francisco roots, Bank of America (NYSE: BAC) has weathered close to a century of wars and financial upheavals to rise as one of the top financial institutions in the US, ranking #2 behind JP Morgan Chase by asset size.
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