Highline Wealth Partners LLC Buys 510 Shares of Bank of America Co. (NYSE:BAC)

Highline Wealth Partners LLC boosted its stake in Bank of America Co. (NYSE:BAC) by 152.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 844 shares of the financial services provider’s stock after acquiring an additional 510 shares during the quarter. Highline Wealth Partners LLC’s holdings in Bank of America were worth $37,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in Bank of America by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 149,812 shares of the financial services provider’s stock valued at $6,584,000 after buying an additional 3,608 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Bank of America by 19.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 9,846 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 1,581 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in shares of Bank of America by 3.2% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 18,611 shares of the financial services provider’s stock worth $818,000 after purchasing an additional 572 shares in the last quarter. Range Financial Group LLC acquired a new stake in Bank of America in the 4th quarter valued at $385,000. Finally, Spartan Planning & Wealth Management bought a new stake in Bank of America during the fourth quarter worth about $671,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the stock in a transaction dated 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Bank of America Trading Down 2.3 %

Bank of America stock traded down $1.07 during trading hours on Friday, hitting $45.14. The stock had a trading volume of 22,095,878 shares, compared to its average volume of 30,240,287. The stock has a market cap of $346.35 billion, a price-to-earnings ratio of 16.41, a P/E/G 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. The business’s 50 day simple moving average is $45.46 and its 200-day simple moving average is $42.15. Bank of America Co. has a one year low of $31.27 and a one year high of $48.08.

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 firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. On average, equities analysts predict that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.30%. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Ratings Changes

BAC has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Evercore ISI increased their target price on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Bank of America Company 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.