6 Highlights of Berkshire Hathaway’s 2021 First Quarter Report

Berkshire Hathaway released its 2021 first quarter report this morning.  The highlights are:

(1) Operating earnings up 19.5%

(2) Cash on March 31, 2021 equals $145.4 billion up from $138.3 billion on December 31, 2020.

(3) Stock buybacks equaled $6.6 billion at average price of $360,000 per A share (vs. current price of $412,500) down from $9 billion in Q4.

(4) Stock buybacks in Q2 through April 22 equaled at least $1.2 billion (if at Q1 price of $360,000 per A Share).

(5) Berkshire was a net seller of equities in the first quarter, reducing its stake in “Commercial, industrial, and other” by $2.6 billion on a cost basis. Berkshire sold a net $3.9 billion in equities last quarter, as it bought $2.6 billion of stock and sold $6.5 billion worth in the period.

(6) Berkshire’s book value on March 31 equaled $294,000 per share. Its price today ($412,500) to book value ratio equals 1.4 which is about average for Berkshire over many years.