“Berkshire Hathaway Inc Sells Over $1 Billion Worth of Bank of America Stock – What Does This Mean for Investors?”

In a significant move, major shareholder Berkshire Hathaway Inc has sold a substantial number of shares in Bank of America Co. The transaction, which took place on Friday, July 19th, involved the sale of 12,291,807 shares at an average price of $43.13 per share, totaling $530,145,635.91. Following this sale, the insider now holds 998,961,079 shares of the company’s stock, valued at $43,085,191,337.27. This sale was disclosed in a document filed with the Securities & Exchange Commission, as required for major shareholders owning at least 10% of a company’s stock.

This recent sale is not an isolated incident, as Berkshire Hathaway Inc also sold 12,690,693 shares of Bank of America stock on Wednesday, July 17th, at an average price of $44.07 per share, amounting to $559,278,840.51.

Bank of America’s stock performance has been noteworthy, with a current ratio of 0.80, a quick ratio of 0.79, and a debt-to-equity ratio of 1.09. The company’s market cap stands at $335.49 billion, with a P/E ratio of 14.84 and a beta of 1.35. Analysts predict that Bank of America Co. will post earnings per share of 3.24 for the current fiscal year.

In terms of dividends, Bank of America recently announced a quarterly dividend, with shareholders receiving $0.24 per share. The company’s dividend payout ratio currently stands at 33.22%, offering a yield of 2.24%.

Institutional investors have also been active in their dealings with Bank of America, with several adding to or reducing their stakes in the company. Analysts have been closely monitoring the stock, with various research reports providing insights and recommendations. MarketBeat reports that Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $41.92.

Bank of America Corporation, through its subsidiaries, offers banking and financial products and services globally. With operations in four segments, including Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets, the company continues to be a key player in the financial services industry.

Overall, the recent transactions involving Berkshire Hathaway Inc and the ongoing performance of Bank of America’s stock present a dynamic landscape for investors and market observers to monitor closely.