Heartwood Wealth Advisors LLC Has $303,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Heartwood Wealth Advisors LLC lowered its position in shares of Bank of America Co. (NYSE:BAC) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,899 shares of the financial services provider’s stock after selling 383 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in Bank of America were worth $303,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC raised its stake in Bank of America by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after buying an additional 227 shares during the period. Beacon Investment Advisory Services Inc. raised its position in shares of Bank of America by 1.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock worth $828,000 after purchasing an additional 231 shares during the period. Integrity Financial Corp WA lifted its holdings in shares of Bank of America by 1.6% during the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 240 shares in the last quarter. Cahill Financial Advisors Inc. increased its stake in Bank of America by 2.1% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 249 shares in the last quarter. Finally, Chicago Capital LLC lifted its stake in Bank of America by 1.8% in the third quarter. Chicago Capital LLC now owns 13,923 shares of the financial services provider’s stock valued at $552,000 after buying an additional 250 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BAC. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Barclays raised their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley lowered shares of Bank of America from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $48.00 to $55.00 in a research report on Monday, December 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Finally, UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $43.00 to $53.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Bank of America Price Performance

NYSE:BAC traded down $1.08 during trading hours on Friday, reaching $45.13. 25,548,623 shares of the company were exchanged, compared to its average volume of 30,921,133. The company has a market capitalization of $346.28 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day moving average of $45.46 and a 200 day moving average of $42.15. Bank of America Co. has a 1-year low of $31.27 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. The business 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%. Bank of America’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. Research analysts forecast that Bank of America Co. will post 3.27 EPS for the current 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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, December 6th. Bank of America’s dividend payout ratio is presently 37.82%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the firm’s stock in a transaction 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 sale, the insider now owns 766,305,462 shares of the company’s stock, valued at $32,606,297,408.10. This trade represents a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.