Over the past six weeks, Warren Buffet's company spent an estimated 1.3 billion dollars on stock buys, suggesting the famed investor thought his company's stock was a bargain again.
According to a company filing this week, there were less outstanding "A" shares on June 14 compared to April 20. In the first half of June, the "A" shares of the company traded at an average price of $465,000, indicating an outlay of over $1 billion in six weeks.
They have slowed their pace even though they may have resumed their purchases. In the first half of this year, the company is on track to spend less than $5 billion, after spending over $50 billion in the last two years.
The shift of spending to other companies' stocks is the reason for the slower pace. In the first quarter of this year, it put in over 40 billion dollars into equity purchases.
The "A" shares of the conglomerate soared to a record $544,000 in March, but have since fallen to below $400,000. After the shares went down in May and June, Buffett bought them again.
During the recent annual shareholders' meeting, Buffet reiterated that he was careful with the money he spent on the stock market.
He said that they don't do anything that doesn't add to the value of the company. When it's the most attractive thing, we only buy back the shares.
See's Candies, Dairy Queen, Borsheims, and Cort were interviewed by Insider. They gave a rare glimpse into Warren Buffet's company and talked about how they are dealing with inflation and the Pandemic.
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