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Warren Buffett’s Berkshire Hathaway is Bank of America’s prime shareholder.
Johannes Eisele/AFP by way of Getty Pictures
Warren Buffett simply purchased much more
Bank of America
Berkshire Hathaway (ticker: BRKb) subsidiaries paid $400 million from July 23-27 for a complete of 16.four million extra shares of the banking large, a mean per-share price of $24.22. Buffett’s Berkshire Hathaway now owns 998.1 million Bank of America shares, based on a kind he filed with the Securities and Alternate Fee. It stays Bank of America’s prime shareholder.
The newest purchases comply with Buffett’s disclosure final week that Berkshire Hathaway entities bought about $810 million of Bank of America stock (BAC) from July 20-22.
Berkshire Hathaway didn’t instantly reply to a request for touch upon the stock purchases.
Bank of America shares have misplaced practically a 3rd of their value this 12 months within the face of the coronavirus pandemic. We’ve expressed admiration for the bank’s CEO, Brian Moynihan, for pledging to not lay off employees through the disaster, and pledging to deal with racial and financial inequality.
Inside Scoop is an everyday Barron’s function masking stock transactions by company executives and board members—so-called insiders—in addition to massive shareholders, politicians, and different distinguished figures. On account of their insider standing, these buyers are required to reveal stock trades with the Securities and Alternate Fee or different regulatory teams.
Write to Ed Lin at [email protected]