Berkshire Hathaway Inc – (BRKB, +N, October 4th)
Greg Abel (Vice Chairman of Non-Insurance Operations since 2018)purchased $68 million worth of A shares on September 29th at an average price of $406,730. This is his first open market purchase in the shares. In June 2022 Abel received $870 million after selling his stake in BHE (Berkshire Hathaway Energy), which just merged with Alleghany Corp in March 2022. Abel is the reported successor to Warren Buffet when he retires and some felt it was odd that his ownership in the company was not commensurate to his role as Vice Chair.
This large purchase is interesting, but also possibly not aggressive given his recent sale. We ranked this stock +N on July 8th based on a $661,000 purchase from Ronald Olson (Director since 1997) in the B shares at $274.
We are renewing our +N rank with Abel’s purchase.
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