Berkshire Hathaway director Meryl Witmer sells $1.55 million in stock

Meryl B. Witmer, a director at Berkshire Hathaway Inc . (NYSE:BRKa) (NYSE:BRKB), has sold shares of Class A Common Stock totaling approximately $1.55 million. The transaction, which occurred on March 3, involved the sale of two shares at a price of $775,883.30 each. Following this sale, Witmer continues to hold shares indirectly through various trusts and direct ownership. The company, currently valued at $1.1 trillion, maintains robust financial health with a P/E ratio of 10.09 and strong liquidity demonstrated by a current ratio of 5.39.

The transaction details indicate that the shares were held by an individual retirement account of Witmer’s spouse, with ownership classified as indirect. The filing also notes that Witmer disclaims beneficial ownership of the reported securities except to the extent of her pecuniary interest. According to InvestingPro, the stock is trading near its 52-week high, with eight additional key insights available to subscribers. Berkshire Hathaway (NYSE:BRKb), known for its diverse holdings and led by Chairman Warren Buffett, remains a significant player in the insurance and finance sectors, generating annual revenue of $371.43 billion.

In other recent news, Berkshire Hathaway has been at the center of several notable developments. UBS analyst Brian Meredith (NYSE:MDP) raised the price target for Berkshire Hathaway to $557 from $536, maintaining a Buy rating. This adjustment follows Berkshire’s recent earnings, which exceeded expectations due to strong performance in its insurance operations, including GEICO and Berkshire Hathaway Reinsurance Group (NYSE:RGA). Meanwhile, Berkshire’s Pilot Co has decided to end its international oil trading business to focus on expanding its North American service stations, as reported by Reuters. In legal matters, the Consumer Financial Protection Bureau filed a lawsuit against Berkshire’s Vanderbilt Mortgage & Finance, alleging the company pushed families into unaffordable loans for manufactured homes. Additionally, Berkshire Hathaway has been increasing its investments in companies like Occidental Petroleum (NYSE:OXY), Sirius XM Holdings (NASDAQ:SIRI), and VeriSign (NASDAQ:VRSN), as revealed in recent SEC filings. The conglomerate’s purchase of approximately $409 million in Occidental shares has raised its stake to over 28%. Berkshire also acquired around five million Sirius XM shares and 234,000 VeriSign shares, reflecting confidence in these companies. These moves highlight Berkshire Hathaway’s active investment strategy and ongoing adjustments in its business operations.

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