Bank of America Co. (NYSE:BAC) Stock Holdings Lifted by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,151 shares of the financial services provider’s stock after buying an additional 359 shares during the period. Insight Wealth Strategies LLC’s holdings in Bank of America were worth $358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in shares of Bank of America during the second quarter worth about $27,000. Kennebec Savings Bank acquired a new position in Bank of America during the 3rd quarter valued at about $29,000. Christopher J. Hasenberg Inc grew its position in Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the third quarter valued at approximately $45,000. Finally, Truvestments Capital LLC bought a new stake in shares of Bank of America during the third quarter valued at approximately $73,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Buying and Selling at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $42.55, for a total transaction of $369,952,591.90. Following the transaction, the insider now owns 766,305,462 shares in the company, valued at $32,606,297,408.10. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Bank of America Trading Up 1.3 %

Bank of America stock opened at $45.39 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 12 month low of $31.27 and a 12 month high of $48.08. The company’s fifty day simple moving average is $45.23 and its 200-day simple moving average is $42.04. The stock has a market cap of $348.27 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.55 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. As a group, sell-side analysts forecast that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 6th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, December 6th. Bank of America’s payout ratio is 37.82%.

Analyst Upgrades and Downgrades

BAC has been the topic of several analyst reports. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Morgan Stanley downgraded shares of Bank of America from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $48.00 to $55.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average target price of $46.07.

About Bank of America

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.