Warren Buffett Recently Sold 34 Million Shares of Bank of America. But That Doesn't Mean You Should | The Motley Fool

Buffett still owns more than 12% of the company. Don't let this move cause you to sell -- or buy -- stock in the bank.Here's an intriguing headline: "Warren Buffett's Berkshire trims Bank of America stake for the first time since 2019 after strong rally." And another: "Warren Buffett's Berkshire Hathaway sells 34 million Bank of America shares."Buffett is arguably the best investor of the past few generations, averaging annual gains of around 20% for decades. So if his company, Berkshire Hathaway, is shedding lots of shares of Bank of America (BAC -1.34%), you might reasonably wonder if you should do the same.The answer is, "Not necessarily."Image source: Getty Images.Buffett's Bank of America sale in contextLet's first examine this sale in context. Remember that "trimming" doesn't mean selling out of a holding. Before these sales, Berkshire held about 1,032,852,006 shares of Bank of America, per its first-quarter regulatory filing. Berkshire now has close to 999,000,000 shares -- stil...