Berkshire Hathaway (BRK.B), the Warren Buffet-led company, has billions of dollars in cash by the end of 2024 as it sold sizable stakes in Apple and Bank of America stock this year. According to its latest filings, the Oracle of Omaha-led company has recently spent a few hundred million dollars and has increased its stakes mainly in three companies.
According to a Thursday filing with the Securities and Exchange Commission—SEC, Berkshire Hathaway has purchased a total of 143,424 stocks of VeriSign Inc. from December 20 to December 24 for a total value of $28.5 million, putting the average price of a share at $199.05. It has increased its stake to 10 percent. The stock’s share price is at $203.95 at closed December 27. However, Berkshire Hathaway generally holds on to the stock for long periods.
Berkshire Hathaway also bought about $405 million worth of shares of Occidental Petroleum. The domestic oil company traded at $48.56 at Sunday’s close and saw a five percent rise in value these past few days. The mid-December purchase of 8.9 million shares increased Berkshire Hathaway’s stake to roughly 30 percent.
The Warren Buffet-led investor company also invested $113 million in Sirius XM stock, buying about 5 million shares. The broadcaster saw a bump in share price on Friday after Berkshire Hathaway invested in the company. After the investment company bought about 5 million shares, it became the largest shareholder of the satellite radio company.
Warren Buffet-led Berkshire Hathaway generally keeps its stake in companies for long periods and has often made early bets on tech companies that have given its shareholders excellent returns. CWEB analysts say that it remains to be seen how these increased stakes in these three companies pan out in the future.
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