Berkshire Hathaway's stock price set a record high on Monday, rising more than 2%, after the conglomerate run by billionaire investor Warren Buffett said quarterly operating profit topped $10 billion for the first time.
Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange in New York City, U.S., May 10, 2023. REUTERS/Brendan McDermidstock price set a record high on Monday, rising more than 2%, after the conglomerate run by billionaire investor Warren Buffett said quarterly operating profit topped $10 billion for the first time.
, including a cash stake that grew to $147.4 billion, while fewer accident claims bolstered Geico car insurance. Buffett's company also posted second-quarter net income of $35.9 billion, reflecting unrealized gains on investments such as AppleBerkshire owned $177.6 billion of the iPhone maker's shares at the end of June.
Keefe, Bruyette & Woods analyst Meyer Shields, who rates Berkshire "market perform," raised his price target to $565,000 from $545,000.The shares no longer routinely trounce the Standard & Poor's 500
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