Warren Buffett Reduces Stake in Bank of America

On August 19, 2024, Warren Buffett (Trades, Portfolio)'s firm made a significant adjustment to its investment portfolio by reducing its stake in Bank of America Corp (BAC, Financial). The transaction involved the sale of 13,968,943 shares at a price of $39.42 each. Following this sale, the firm still holds a substantial number of shares, totaling 928,460,939, which represents 11.97% of the company's outstanding shares and 13.1% of the firm's total portfolio.