Main financial assets discussed in the article:
1. Stocks: The article discusses various stocks held in Berkshire Hathaway's portfolio, including Apple Inc., Bank of America, American Express, Coca-Cola, Chevron, and many others.
2. Warrants: Berkshire Hathaway holds warrants in companies like Occidental Petroleum and Bank of America.
3. Tracking stocks: Berkshire Hathaway holds tracking stocks in companies like Liberty SiriusXM Group and Liberty Media Formula One.
Top 3 key points:
1. Berkshire Hathaway's 13F stock portfolio value increased from ~$325B to ~$348B in Q2 2023.
2. Berkshire Hathaway repurchased ~3.92M Class B Equivalent Shares for a total outlay of ~$1.30B in Q2 2023.
3. Berkshire Hathaway made new stakes in companies like D.R. Horton Inc., NVR Inc., and Lennar Corp, while reducing stakes in companies like McKesson Corp, Marsh & McLennan, and Activision Blizzard.
Recommended actions:
- **Buy**: The article does not explicitly recommend any buy actions.
- **Sell**: The article mentions stake disposals in McKesson Corp, Marsh & McLennan, and Activision Blizzard, indicating a possible sell action.
- **Hold**: The article mentions that Berkshire Hathaway has held large stakes in American Express and Coca-Cola "permanently," suggesting a hold action for these stocks. The article also mentions that Berkshire Hathaway's cost-basis on General Motors is ~$31, while the stock currently trades at ~$34, indicating a hold action.
Goldman Sachs and Morgan Stanley analysts recommend stocks like Nvidia, Microsoft, Alphabet, Amazon, Meta Platform, Salesforce, and Apple, while companies like Zoom, Baidu, Campbell, Aramark, Hasbro, Intuit, Visa, GXO Logistics, Upstart, and SoFi receive price target updates or ratings changes from various financial institutions.
Wells Fargo analyst Steven Cahall has lowered his stock price target for Walt Disney Co. by over $30 but maintains an "overweight" rating, anticipating that investor focus will eventually shift from short-term challenges to long-term opportunities.
Equities are lower in premarket trading, oil prices pull back slightly, Arm Holdings' IPO is China-focused, Walt Disney faces a crisis with Charter Communications, retired Chinese Communist Party elders upbraid Xi Jinping, TD Cowen upgrades Constellation Brands, William Blair initiates coverage on Trade Desk, UBS lowers price target on Dexcom, HSBC initiates coverage on biopharmaceutical and healthcare companies, Loop Capital raises price target on TJX Companies, and Mizuho lowers price target on Dominion Energy.
JPMorgan retail analyst predicts challenges for lower to middle-class consumers due to increasing mortgage rates, credit card debt, stagnant wages, and declining apparel trade, while banks face uncertainty in the commercial real estate sector; JPMorgan reduces price target on Netflix ahead of earnings, UBS issues a buy rating for Trade Desk, Workday shares plummet after weak Investor Day details, Bank of America lowers price target on Advance Auto Parts, TD Cowen initiates coverage on Diageo, TD Cowen reduces price target on Walgreens Boots Alliance, Paychex receives multiple price target increases, JPMorgan raises price target on Take-Two Interactive, and Barclays cuts price target on United Parcel Service.
Edward Jones downgrades Berkshire Hathaway to hold from buy, citing that the Warren Buffett company is fully valued. Citi lowers Domino's Pizza price target, but potential upside surprise is expected due to DoorDash and Uber app deals. Stifel upgrades Brinker International, while Loop Capital upgrades Restaurant Brands, both with price target increases. Bank of America raises Celsius' price target, while Citi starts Zions Bancorp with a buy rating. Citi also likes Huntington Bancshares. Wells Fargo increases Intuit's price target, and Wolfe Research downgrades ResMed. Mizuho raises Flowserve's price target, and CSX receives a price target bump from BofA.
Goldman Sachs shuffles its "Conviction Buy List" by adding Nvidia, Okta, Cintas, and Quanterix, while removing Salesforce and Johnson Controls International; DA Davidson upgrades Clorox to buy; and Morgan Stanley upgrades U.S. Steel to overweight, among other market updates.
