Insight Wealth Strategies LLC Acquires 359 Shares of Bank of America Co. (NYSE:BAC)

Insight Wealth Strategies LLC boosted its holdings in Bank of America Co. (NYSE:BAC) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Fairway Wealth LLC acquired a new stake in Bank of America during the second quarter worth about $27,000. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the 3rd quarter worth approximately $29,000. Christopher J. Hasenberg Inc raised its stake in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Bank of America in the third quarter worth $45,000. Finally, Truvestments Capital LLC acquired a new stake in Bank of America during the third quarter worth $73,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 4,002,225 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $40.14, for a total transaction of $160,649,311.50. Following the transaction, the insider now owns 776,614,511 shares in the company, valued at approximately $31,173,306,471.54. This trade represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Bank of America from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their target price on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.07.

Bank of America Price Performance

Bank of America stock opened at $45.39 on Tuesday. The stock has a market cap of $348.27 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.55 and a beta of 1.33. Bank of America Co. has a 12-month low of $31.27 and a 12-month high of $48.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The business’s 50-day simple moving average is $45.23 and its 200 day simple moving average is $42.04.

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

Bank of America Dividend Announcement

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

Bank of America Profile

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.