Buffett dialed back on stock buybacks as Berkshire Hathaway continues to buy stakes

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Buffett dialed back on stock buybacks as Berkshire Hathaway continues to buy stakes

In the second quarter, Warren Buffett dialed back on share repurchases, as his conglomerate put its cash stockpile to work buying up stakes in other companies.

None of the billionaire s Berkshire Hathaway Inc. repurchased $1 billion of shares during the second quarter, less than the $3.2 billion it bought back during the first three months of 2022. Buffett has turned to stock buybacks as a way to give back a lot of money in cash and return some excess funds to shareholders. Berkshire's stock was cheaper despite a general downturn in markets, with the Class A shares falling nearly 23% during the quarter.

The company's Class A stock fell almost 23% in the second quarter, after a 17% increase in the first three months of the year.

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