Buffett’s Berkshire Hathaway paid $337 million for 13.6 million more Bank of America shares. Its recent purchases of the bank’s stock now total more than $2...
Berkshire Hathaway subsidiaries paid $337 million from July 31 through Aug. 4 for a total of 13.6 million more Bank of America shares , an average per-share price of $24.81. Buffett, CEO of Berkshire, disclosed the transactions in a form he filed with the Securities and Exchange Commission.
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Buffett’s company has been scooping up Bank of America stock in recent weeks, buying $1.73 billion of shares from July 20 through July 30, paying an average price of $24.24 a share. Berkshire is allowed to acquire up to 24.9% of BofA’s stock; Berkshire Hathaway’s current holdings of 1.03 billion shares now represents a stake of 11.8%.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
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