OMAHA, Neb., March 6 — Berkshire Hathaway has restarted share repurchases and new CEO Greg Abel bought about $15 million of the conglomerate’s stock, according to disclosures reported by Reuters; CNBC; The Associated Press.
The company said the buybacks began Wednesday, the first since May 2024, as Abel — who took over as chief executive in January after Warren Buffett stepped aside — oversees capital allocation at Berkshire.AP coverage; Reuters report; 24/7 Wall St.
Buybacks Restart After Long Pause
Berkshire ended last year with about $373.3 billion in cash, a reserve that gives management flexibility to buy back stock when shares trade below intrinsic value, a policy outlined in coverage by CNBC; AP; 24/7 Wall St..
The repurchases ended nearly a two‑year pause after the last buyback in the second quarter of 2024, and they signal that the current leadership believes the stock is undervalued relative to Berkshire’s intrinsic value policy, according to CNBC; 24/7 Wall St.; Reuters.
Abel Signals Alignment
Abel purchased 21 Class A shares for roughly $15 million and now holds 249 Class A shares, according to reporting by Reuters; 24/7 Wall St.; Fortune.
Berkshire disclosed the buybacks and Abel’s purchase in regulatory filings, and the company said repurchases can proceed when management judges that intrinsic value exceeds market price, as described in coverage by CNBC; CNBC transcript; AP.
Leadership Transition
The moves mark one of the first major capital‑allocation signals under Abel, who replaced Buffett as chief executive in January while Buffett remains chairman, a leadership change noted by Reuters; CNBC; AP.
Additional Details Reported
Abel said he plans to use his full after‑tax salary to buy Berkshire shares each year, a commitment he discussed in interviews with CNBC; Fortune.
Abel said he has no immediate plans to sell Berkshire’s Kraft Heinz stake after the food company paused a proposed split, according to AP.
Berkshire’s shares rose more than 2% on Thursday after the disclosure, as reported by Reuters; AP.
Abel said he consulted Buffett before restarting buybacks, per the CNBC transcript.
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