Berkshire Hathaway (BRK.A / BRK.B) has bought back $2.3 billion U.S. of its own stock in this year’s first quarter through March 6.
The company led by famed investor Warren Buffett has repurchased about 3,800 of its Class A shares so far in 2024, according to information made available in the company’s latest proxy statement.
The recent stock buybacks are an acceleration from the $2.2 billion U.S. of stock that Berkshire repurchased in the fourth and final quarter of 2023.
At the current pace, Berkshire is on track to buyback about $3 billion U.S. of its own stock in the current first quarter of the year.
Analysts and investors carefully watch the pace of Berkshire’s stock buybacks for an indication of whether Buffett views the stock as cheaply valued.
Buffett has said that he alone determines the pace of Berkshire stock repurchases and that he is price conscious when making decisions.
Berkshire Hathaway’s stock has performed well lately. Year-to-date, the company’s more expensive Class A shares are up 12% and trading at $618,133.70 U.S.
The Class A stock has never split, helping to account for the high price.
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