Berkshire Hathaway stock: What you need to know
The basics
Berkshire Hathaway Inc. (BRK.A, BRK.B) is a conglomerate holding company headquartered in Omaha, Nebraska. Warren Buffett has led the company since 1965 and is its current CEO. Berkshire Hathaway's businesses and investments include insurance, railroads, utilities, manufacturing, and retail.
Recent news
In recent news, Berkshire Hathaway reported its first-quarter earnings on May 6, 2023. The company reported net income of $7.04 billion, or $5.64 per share, compared to $11.71 billion, or $8.62 per share, in the first quarter of 2022. The company's operating income rose 12%, to $9.28 billion, from $8.26 billion in the year-ago period.
Berkshire Hathaway also announced that it had repurchased $2.6 billion of its own shares during the first quarter. The company has now repurchased over $50 billion of its stock since the beginning of 2022.
What analysts are saying
Analysts are generally positive on Berkshire Hathaway's stock. According to FactSet, the average price target for BRK.A is $510,000, with a high price target of $600,000 and a low price target of $420,000.
Conclusion
Berkshire Hathaway is a well-respected company with a long history of success. The company is led by a strong management team and is well-positioned to continue to grow in the future. Investors who are looking for a long-term investment may want to consider Berkshire Hathaway stock.
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