Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B), synonymous with legendary investor Warren Buffet, on Wednesday said that it bought back 9,200 Class A shares at a price of $131,000 a share from the portfolio of a long-time shareholder. The Omaha based heavyweight however, withheld the identity of the investor.

Berkshire Hathaway logo

At the wake of the announcement, Berkshire’s Class A and Class B shares rose an approximated 1.7 percent. Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) went on to add that the company’s board of directors signed off on the purchase. It further mentioned that the board’s authorization of the buyback was concurrent with the rising of the price limit for repurchases to 120 percent of book value. The company pointed out that there was a probability of it buying additional shares in the market or through direct offerings, however, maintaining that it would do this at not more than 120 percent of book value.

Moments before the announcement, trading of Berkshire Hathaway’s shares on the NYSE had been temporarily halted in light of the pending news. As expected, speculation was rife that the news had something to do with Buffet, specifically a successor plan for Berkshire. While Buffet’s son, Howard Buffet, has been tapped to be the non-executive chairman of the company, there is still no idea of who the next CEO will be.

Nothing new on Buffet

This anticipated announcement however came absent any news on Warren Buffet. This has however not deterred investors and analysts from maintaining tabs on the billionaire. As we had reported earlier in October, Buffet- who attracts a bulging following- had shared his insights on the economy. Alongside other highlights, Buffet was keen to make mention of the housing sector, citing that it was rebounding considerably. In light of his bullish outlook on housing, the renowned investor has been buying up real-estate brokerages around the country, with one of the latest deals being a partnership Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A). This deal could see Buffet’s brokerage business more than double.