Berkshire Hathaway's Greg Abel Sells Bank of America, Buys Alphabet

M&A · Partnership
โดย The Motley Fool·US·Read original
Summary · why it matters

Berkshire Hathaway's new CEO Greg Abel sold 30,230,000 shares of Bank of America in the second quarter, marking the eighth consecutive quarter of reductions and cutting the stake by 53% to nearly 549.5 million shares. Abel also purchased 24,541,369 Class A shares and 23,603,218 Class C shares of Alphabet, plus a $10 billion private placement announced June 1, making Alphabet Berkshire's third-largest holding at nearly $36.6 billion in combined market value. The Alphabet purchases ended 14 consecutive quarters of net stock sales for Berkshire. Alphabet holds a greater than 91% share of global search engine traffic and saw Google Cloud revenue jump 82% year over year in the June-ended quarter.

Impact on stocks 10

Consumer Staples▲ · 3 stocks
Financials▼ · 2 stocks
Bank of America Corp
BAC
▼ NegativeCapitalrelevance

Berkshire Hathaway sold 30.23 million shares, cutting its stake by 53%, indicating reduced confidence.

Artificial Intelligence▲ · 2 stocks
Alphabet Inc Class C
GOOG
▲ PositiveDemandrelevance

Berkshire's large purchase and Google Cloud's 82% revenue growth signal strong demand for Alphabet's services.

Energy Transition & Power Demand▲ · 1 stocks
Berkshire Hathaway Inc
BRK-B
± MixedCapitalrelevance

Berkshire's new CEO made significant portfolio moves, but impact on Berkshire itself is indirect.

Industrials▲ · 1 stocks
Consumer Discretionary▲ · 1 stocks
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