Berkshire Hathaway reduced its Bank of America holdings to 513 million shares worth $25 billion from a $41 billion peak in Q2 2024.
Berkshire Hathaway cut its Bank of America Corp (BAC) stake to 513 million shares valued at $25 billion, down from a $41 billion peak in Q2 2024. The conglomerate previously held 1.03 billion shares, which had grown from 679 million in Q3 2017 and 1.01 billion in Q3 2020.
The stake’s value surged from $17.2 billion in Q3 2017 to $19.1 billion in Q2 2018 before stabilizing. Berkshire maintained its position until Q4 2022, when it increased holdings slightly, reaching a record valuation this year.
Analysts remain bullish on BAC, with Citi raising its price target to $66 and Truist to $64, both maintaining Buy ratings ahead of Q2 earnings.