Warren Buffett Buys Berkshire Hathaway Stock Worth $5.1 Billion as COVID-19 Hurts Earnings. The airline industry has witnessed the worst impact of COVID-19 pandemic. Copyright © 2020 MarketWatch, Inc. All rights reserved. It operates through following segments: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, McLane Company, Manufacturing, and Service and Retailing. The purchase came against the company’s massive liquidation into other stocks during the same period. Berkshire Class A and B shares are down by about 0.6% and 0.5% at Friday's close. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE. Berkshire’s significant investment in Apple has helped to keep the numbers satisfactory.

Last year in Q4 2019, Berkshire purchased nearly $2.2 billion worth of its stock. With the stock up $154.71, or 60.8%, since the end of the March, the stake's value has increased by $37.93 billion.

Warren Buffett's Berkshire Hathaway suffered an 11% drop in revenue in the second quarter, but almost $30 billion in year-on-year investment gains meant its net income surged 86% to $26.3 billion.

The company’s second-quarter net earnings surged 87% to $26.3 billion from last year’s $14.2 billion.“The risks and uncertainties resulting from the pandemic that may affect our future earnings, cash flows and financial condition include the nature and duration of the curtailment or closure of our various facilities and the long-term effect on the demand for our products and services.”Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts. Berkshire's moves appeared to reflect a broad lightening of the conglomerates exposure to large-capitalization banks during the worst public health crisis in generations. Warren Buffett has received a lot of criticism recently amid the recent market downturn, but one investment he's got right is Apple Inc.'s stock . Have Watchlists? The famed investor spent a record $5.1 billion buying back Berkshire’s own stock in the second quarter, more than double the amount he’d ever purchased before. Berkshire Hathaway slashed its investment in JPMorgan, exited positions in Occidental Petroleum and Goldman Sachs, and bought Barrick Gold and Kroger stock, all in the second quarter. The report also showed that Buffett's firm dumped its entire stakes in Goldman Sachs , Occidental Petroleum Corp. , as well as consummating an exodus of airline companies, including American Airlines Group Inc. , Delta Air Lines United Airlines and Southwest Airlines Co. . Berkshire Hataway to writedown a whopping $9.8 billion as losses from its aircraft industrial manufacturing company Precision Castparts. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and real estate brokerage activities. Meanwhile, the investment firm acquired nearly 21 million shares of Barrick Gold worth $563 million, representing 0.3% of Berkshire's holding. Companies are weighing stock splits after Tesla and Apple’s announcement, expert says Democrats to open convention like no other as Biden’s big party goes virtual

However, its biggest common stock holding in Apple Inc has helped the company register an 87% jump in net revenues during Q2 2020.Rather than putting his money in other companies, Berkshire Hathaway purchased $5.1 billion worth of its own stock in May and June.