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Berkshire Hathaway accelerates buybacks, lowers cash stake as profit tops forecasts
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New York Post
Berkshire also bought nearly $20 billion more stocks than it sold, ending 14 straight quarters as a net seller of shares.
5 Berkshire Hathaway said it repurchased $4.5 billion of its own stock between April and June and over $3.3 billion more last month.
Christopher SadowskiThe reported cash stake includes $6.8 billion that Berkshire spent in late July to buy home builder Taylor Morrison.
Berkshire’s $12.98 billion of operating profit equaled about $9,068 per Class A share, and rose from $11.16 billion a year earlier.
Berkshire Hathaway Energy said profit rose 27% to $891 million, benefiting from higher utility margins and tax credits.