Greg Abel's moves push Berkshire Hathaway highest since May 2025
Berkshire Hathaway just hit its highest share price since May 2025, all thanks to a strong second quarter and some bold moves by new CEO Greg Abel.
Taking over from Warren Buffett, Abel has started putting the company's huge cash pile to work, which has clearly boosted investor confidence.
In morning trading, Class A shares climbed 3.3% to $806,102.81, and Class B shares went up 3.1% to $537.74.
Berkshire cash drops to $364.7 billion
Berkshire's cash balance dropped to $364.7 billion after big investments, like buying $10 billion in Alphabet stock and spending $4.5 billion on share buybacks.
The company's second-quarter operating profit jumped 16% (now at $12.98 billion), and net income more than doubled, thanks mostly to gains from Alphabet and Apple investments.
Revenue was also up 10% year over year.
Analysts are raising their price targets for Berkshire because of its strong second-quarter results, and investors seem excited about where things are headed under his leadership.