Ace investor Warren Buffet is geared up for bigger investments in 2024 and is eyeing two stocks for an entry position. The co-founder and the CEO of Berkshire Hathaway is looking at stock buybacks this year in 2024. The conglomerate had made heavy investments in 2023 with stock buybacks worth a staggering $7 billion in the last nine months. For the uninitiated, Buffet’s Berkshire is allowed to buy back its shares at any time if the price is below the stock’s intrinsic value.
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In this article, we will highlight the top two stocks that Warren Buffet’s Berkshire Hathaway is eyeing for in 2024.
Top 2 Stocks Warren Buffet’s Berkshire Hathaway is Considering To Buy in 2024
The quarterly securities filings of Warren Buffet’s Berkshire Hathaway show that the financial institution is considering buying two different stocks in 2024. However, the firm has not purchased the stocks yet but is only considering them at the moment. Below are the two stocks that Buffet’s Berkshire is eyeing in 2024.
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- Occidental Petroleum (NYSE: OXY)
Oil giant Occidental Petroleum (OXY) is one of the stocks that Warren Buffet’s Berkshire Hathaway is considering buying in 2024. Berkshire already owns a large stake in the oil company standing at 28% currently. The financial firm is eyeing to raise the stake by buying more stocks in OXY. Buffet’s Berkshire has received permission to hold a stake of up to 50% in the company.
- Berkshire Hathaway (NYSE: BRK.A)
Also, Warren Buffet is looking at stock buybacks at his own company Berkshire Hathaway. Chances are high that the conglomerate will most likely initiate stock buybacks at BRK.A and repurchase shares worth billions of dollars.
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However, the only condition is that Berkshire Hathaway needs to keep $30 billion worth of cash, cash equivalents, and US Treasury bills. Moreover, if the criteria are met, Buffet can initiate stock buybacks and have more mileage to time the markets.
