Aprio Wealth Management LLC Has $1.34 Million Holdings in Bank of America Co. (NYSE:BAC)

Aprio Wealth Management LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,563 shares of the financial services provider’s stock after purchasing an additional 1,752 shares during the quarter. Aprio Wealth Management LLC’s holdings in Bank of America were worth $1,343,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in Bank of America during the second quarter worth $27,000. Kennebec Savings Bank acquired a new stake in Bank of America in the third quarter valued at $29,000. Highline Wealth Partners LLC lifted its stake in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc lifted its stake in 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 acquiring an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America in the third quarter valued at $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Down 2.3 %

Shares of Bank of America stock opened at $45.14 on Monday. The company has a market capitalization of $346.35 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.55 and a beta of 1.33. 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 firm’s 50-day moving average price is $45.53 and its two-hundred day moving average price is $42.22.

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

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.30%. Bank of America’s payout ratio is currently 37.82%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total value of $369,952,591.90. Following the sale, the insider now directly owns 766,305,462 shares in the company, valued at approximately $32,606,297,408.10. This trade represents a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent analyst reports. Morgan Stanley cut shares of Bank of America from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $48.00 to $55.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Truist Financial initiated coverage on shares of Bank of America in a research note on Tuesday, January 7th. They issued a “buy” rating and a $52.00 price target for the company. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Finally, Phillip Securities raised 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 report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

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.