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Berkshire Hathaway accelerates share buybacks, spending $4.5 billion in Q2
Berkshire repurchased 65 Class A shares and 1.45 million Class B shares in May, then bought back 413 Class A shares and 7.13 million Class B shares in June, per its 10-Q filing.
Berkshire Hathaway accelerated its share buyback efforts in the second quarter, spending $4.5 billion to repurchase shares after spending $235 million in the first quarter, according to Yahoo Finance. The faster repurchases reflect the company’s view that its intrinsic value is above the market price, as Berkshire’s filings tie buybacks to when the CEO believes the repurchase price is below conservatively determined intrinsic value, after consultation with the chairman of the board. In its 10-Q filing, Berkshire said it repurchased 65 shares of Class A stock and 1.45 million shares of Class B stock in May, followed by 413 Class A shares and 7.13 million Class B shares in June.
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