Berkshire Ramps Up Stock Buybacks as Cash Pile Keeps Growing
- Buffett’s firm repurchased more in quarter than in all of 2018
- Company’s annual shareholder meeting starts Saturday morning
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Warren Buffett’s Berkshire Hathaway Inc., sitting on a cash pile of more than $114 billion, spent the first quarter snapping up more of its own stock.
The Omaha, Nebraska-based conglomerate repurchased $1.7 billion of shares as the stock dipped in the first quarter. That was more than the $1.3 billion that Berkshire, which historically has preferred using its cash on equities or acquisitions, spent all of last year after relaxing its policy on buybacks.