Buffett Stock Portfolio: Warren Buffett’s 5 Recent Buys

3. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 85

Citigroup Inc. (NYSE:C) is a diversified financial service holding company that provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. Berkshire Hathaway bought Citigroup Inc. (NYSE:C) stock in the first quarter of 2022. This holding, at the end of the third quarter of 2022, comprised 55.2 million shares worth $2.3 billion. This makes up 0.77 % portion of its total investment. On January 13, 2023, Citi Group Inc. posted their earnings for the fourth quarter, reporting earnings per share of $1.16, missing the analyst’s estimate by -$0.04. The company’s revenue was $18.01B, beating the analyst’s estimate by $3.35M.

On January 17, BofA analyst Ebrahim Poonawala maintained a Buy rating on Citigroup Inc. (NYSE: C) stock and increased the price target to $60 from $52, noting the management team’s efforts in navigating a year of exceptional volatility, building capital, executing the exit from certain consumer businesses, and largely adhering to the strategic plan outlined in last year’s investor day.

Among the hedge funds being tracked by Insider Monkey, Omaha, Nebraska-based investment firm Berkshire Hathaway is a leading shareholder in Citigroup Inc. (NYSE:C) with 55.2 million shares worth more than $2.3 billion.

In its Q1 2022 investor letter, Diamond Hill Capital, an asset management firm, highlighted a few stocks and Citigroup Inc. (NYSE:C) was one of them. Here is what the fund said:

“Shares of Citigroup declined in the quarter as investors became increasingly negative on capital markets activity. The company is also continuing to divest certain consumer banking geographies which may be dilutive to earnings in the near term.”