12 Best Fortune 500 Stocks To Buy According to Hedge Funds

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9. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 113

Bank of America Corporation (NYSE:BAC) is one of the leading financial institutions in the world, serving individuals, small- and middle-market businesses, large corporations, and governments with a full range of banking, investment management and other financial and risk management products and services. The company has operations in more than 35 countries around the world and provides access to more than 140 currencies.

Bank of America Corporation (NYSE:BAC) beat expectations in Q4 2024 as it reported a revenue of $25.3 billion, up 15.2% YoY and above analysts’ estimates by $170 million. The second-largest US lender’s net income also rose to $6.7 billion, or 82 cents per share, compared to $3.1 billion, or 35 cents per share a year earlier, demonstrating significant financial growth and robust earnings despite a competitive environment. The bank also expanded its customer base, adding 213,000 new consumer checking accounts, marking six straight years of quarterly growth. Moreover, the company maintains a robust balance sheet and ended the year with $953 billion in liquidity and returned $2 billion to shareholders through dividend payments.

Bank of America Corporation (NYSE:BAC) has paid regular dividends to shareholders for 27 years in a row and with a current annual dividend yield of 2.3%, it is included among the 12 Best Fortune 500 Dividend Stocks To Buy Right Now.

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