Berkshire Hathaway Inc (BRKB, +1, March 22nd)
Gregory Abel (Vice Chairman- Non-Insurance Operations since 2018; formerly CEO BHE) purchased 55 class A shares on March 17th at $447,260 per share, spending $24.6m and taking his class A holdings to 228 shares plus the 2,363 B shares he also owns. This purchase is his second open market purchase in the shares and follows a $68m purchase of the A shares in September 2022 at $406,730, which proved timely.
We ranked the stock in 2022 partially based on his purchase and it is interesting to see him add and at a higher price level. He was formerly CEO of Berkshire Hathaway Energy (BHE) which merged with Allegheny Corp in early 2022. Abel received $870 million in that transaction. Abel’s ownership in Berkshire is now >$105 million. Abel has been a director at Kraft Heinz since 2015 and his stock ownership there is $2.5 million and he has yet to make an open market purchase since he became a director.
We are ranking the stock +1.