In this article, we discuss 14 Best Affordable Stocks to Buy According to Hedge Funds.
The broader market has taken a significant hit, dropping 10% from its peak and wiping out $5.28 trillion in market value in just three weeks. It was worth $52.06 trillion on February 19, but it nosedived to $46.78 trillion as of March 14, 2025. Trade tensions under President Trump, weaker economic growth, and low consumer confidence are all playing a role. Plus, the AI stock boom is cooling off – one of Wall Street’s biggest AI players has fallen 17%, and a popular tech-focused ETF is down 16%. However, even after the drop, the wider market is still looking pricey, trading at 24.1 times its trailing earnings, well above its historical average.
Some experts had previously warned that challenges were looming ahead. On January 22, Rob Arnott, the founder of Research Affiliates, sounded the alarm on US big-cap stocks. He pointed out that the Equity Risk Premium (ERP), which measures how much extra return stocks offer over risk-free government bonds, is at one of its lowest levels in history. In simple terms, this means stocks are looking seriously overvalued, and a downturn could be on the horizon. Arnott blames this on soaring valuations, especially in tech, and rising real interest rates. He still sees opportunities in emerging markets and value stocks, but the overall US market, dominated by overpriced tech giants, looks risky. Arnott puts the odds of a bear market at 50% for both 2025 and 2026, which is much higher than usual.
With markets in turmoil, Wall Street is getting nervous. A new CNBC Fed Survey showed that recession fears are climbing fast, with the probability jumping to 36%, the highest in six months, up from just 23% in January 2025. Trade policies, especially tariffs, which have now replaced inflation as the biggest perceived threat to the US economy, are driving these concerns. As a result, economic growth projections for 2025 have been cut sharply, with GDP now expected to grow just 1.7% instead of the previous 2.4% estimate. Investors are worried that policy uncertainty is spiraling out of control. Despite all this, most survey respondents still believe the Federal Reserve will step in with at least two rate cuts this year.
In light of this uncertainty, investors may be wondering how to navigate the market effectively. Given the current market conditions, it is a great time for individuals looking to enter the stock market. A smart approach would be to focus on budget-friendly stocks to minimize potential losses. With that in mind, let’s explore some of the best affordable stocks favored by Wall Street hedge funds.
Stock market charts. Photo by Kaboompics.com on Pexels
Our Methodology
For this article, we used the Finviz screener to filter out a list of stocks priced under $50, with P/E ratios below 20 as of March 22. Then, we manually checked which of the resulting stocks were most popular among hedge funds. We gauged hedge fund sentiment around each stock from Insider Monkey’s Q4 database of 1009 elite funds. The list is ranked in ascending order of the number of hedge fund holders in each firm.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
14. CSX Corporation (NASDAQ:CSX)
Number of Hedge Fund Holders: 63
Share Price as of March 22: $29.57
P/E Ratio as of March 22: 16.52
CSX Corporation (NASDAQ:CSX) is a freight transportation company operating in the United States and Canada. It provides rail, intermodal, and trucking services, transporting chemicals, agricultural products, minerals, automotive materials, and coal. On March 10, the company announced that it had raised $600 million by issuing a public offering of 5.050% notes that will be repaid in 2035. This brings its total debt to $19.2 billion. The notes were issued under an existing agreement with The Bank of New York Mellon Trust Company. This offering supports CSX’s capital strategy and future investments. It is one of the best affordable stocks to buy, priced under $30 with a P/E ratio of 16.5 as of March 22.
CSX Corporation (NASDAQ:CSX) reported a drop in earnings for Q4 2024, with operating income at $1.11 billion, down from $1.32 billion last year. Net income for the quarter also fell to $733 million from $882 million in Q4 2023, partly due to a $108 million non-cash impairment charge. Despite this, total shipping volume increased by 1% to 1.58 million units. Still, CSX returned $3.2 billion to shareholders for full-year 2024, through $2.2 billion in stock buybacks and $900 million in dividends.
Among the hedge funds tracked by Insider Monkey, 63 funds held stakes in CSX Corporation (NASDAQ:CSX) at the end of December 2024, compared to 51 funds in the September quarter.
13. Hewlett Packard Enterprise Company (NYSE:HPE)
Number of Hedge Fund Holders: 66
Share Price as of March 22: $16.05
P/E Ratio as of March 22: 7.72
Hewlett Packard Enterprise Company (NYSE:HPE) helps businesses manage and analyze data with solutions across cloud computing, networking, and IT infrastructure. HPE offers servers, networking gear, and financing options, along with consulting and research through Hewlett Packard Labs. It is one of the best affordable stocks to buy now.
In Q1 2025, Hewlett Packard Enterprise Company (NYSE:HPE) achieved a 17% year-over-year revenue growth, marking its fourth consecutive quarter of improvement. This growth was driven by a 30% increase in the server business and strong performance in the hybrid cloud. Total revenue for the quarter reached $7.9 billion, up 16% in actual dollars and 17% in constant currency. GAAP EPS came in at $0.44, a 52% increase from the same quarter last year but down 56% sequentially, yet exceeding the company’s guidance ranging from $0.31 and $0.36. HPE also returned $223 million to shareholders through dividends and share buybacks during Q1.
On March 6, Hewlett Packard Enterprise Company (NYSE:HPE) announced a quarterly dividend of $0.13 per share. The dividend is payable on April 18, to shareholders on record as of March 21.
According to Insider Monkey’s fourth quarter database, 66 hedge funds were long Hewlett Packard Enterprise Company (NYSE:HPE), compared to 64 funds in the last quarter. Slate Path Capital was the leading stakeholder of the company, with a position worth roughly $271 million.
12. General Motors Company (NYSE:GM)
Number of Hedge Fund Holders: 68
Share Price as of March 22: $49.80
P/E Ratio as of March 22: 7.82
General Motors Company (NYSE:GM), a Michigan-based multinational automotive manufacturer, ranks 12th on our list of the best affordable stocks. On March 20, Piper Sandler analyst Alexander Potter upped his price target for General Motors from $45 to $48 and maintained a Neutral rating. He acknowledged GM’s strong leadership and solid performance but pointed out that in the auto industry, strong earnings often lead to a downturn. This could explain why GM’s stock is trading on the lower end of its historical P/E range.
On February 26, General Motors Company (NYSE:GM) announced that it is raising its quarterly dividend by $0.03 to $0.15 per share, starting with the April 2025 payout. The company also disclosed a new $6 billion share buyback plan, with $2 billion set for an accelerated repurchase. For 2025, GM expects to invest between $10 to $11 billion in capital projects, including battery cell production, and over $8 billion in research and development.
For the full year 2024, General Motors Company (NYSE:GM) reported $14.9 billion in EBIT-adjusted earnings, landing at the high end of its guidance. Adjusted EPS jumped 38% year-over-year to $10.60, helped by share buybacks. Revenue for the year grew 9% to $187 billion, driven by higher wholesale volumes and average transaction prices above $50,000. US market share climbed to 16.5% for the year and hit 17.5% in Q4, the highest since 2018 (excluding 2020). GM also saw solid EV momentum, wholesaling 189,000 EVs and delivering over 146,000.
According to Insider Monkey’s Q4 data, 68 hedge funds were bullish on General Motors Company (NYSE:GM), compared to 64 funds in the earlier quarter. Harris Associates was the biggest stakeholder of the company, with 30.2 million shares valued at $1.6 billion.
11. Newmont Corporation (NYSE:NEM)
Number of Hedge Fund Holders: 69
Share Price as of March 22: $47.36
P/E Ratio as of March 22: 16.56
Headquartered in Denver, Colorado, Newmont Corporation (NYSE:NEM) is a global mining company specializing in gold production and exploration. It also mines other metals like copper, silver, zinc, and lead. By the end of 2024, the company had 134.1 million ounces of gold reserves, down slightly from 135.9 million in 2023. Its tier-1 assets include 125.5 million ounces of gold, along with 13.5 million tonnes of copper and 530 million ounces of silver reserves. NEM is one of the best affordable stocks to watch out for.
On March 3, Newmont Corporation (NYSE:NEM) announced that it has sold three of its non-core mines, Musselwhite and Éléonore in Canada and Cripple Creek & Victor in Colorado, bringing in $1.7 billion after taxes. The company expects to close two more sales, Akyem in Ghana and Porcupine in Canada, in early 2025, adding another $800 million to its balance sheet. Altogether, Newmont’s divestments could reach $4.3 billion, helping to strengthen its finances and return value to shareholders.
Newmont Corporation (NYSE:NEM) closed 2024 with a strong financial performance, reporting $3.4 billion in net income, $3.48 per share in adjusted net income, and $8.7 billion in adjusted EBITDA for the year. The company generated $6.3 billion in operating cash flow and $2.9 billion in free cash flow, including a record $1.6 billion in the fourth quarter. Newmont also repurchased $1.2 billion in shares and paid $1.1 billion in dividends. NEM ended the year with $3.6 billion in cash and reduced debt by $1.4 billion.
According to Insider Monkey’s fourth quarter database, Newmont Corporation (NYSE:NEM) was a part of 69 hedge fund portfolios, compared to 63 funds in the last quarter.
10. Pinterest, Inc. (NYSE:PINS)
Number of Hedge Fund Holders: 73
Share Price as of March 22: $32.42
P/E Ratio as of March 22: 12.14
Pinterest, Inc. (NYSE:PINS) operates a global visual search and discovery platform where users can explore and save ideas for home decor, fashion, recipes, and more. On February 7, Goldman Sachs analyst Eric Sheridan raised Pinterest’s price target from $42 to $47 while maintaining a Conviction Buy rating, citing strong Q4 earnings, increased user engagement, and ad revenue growth. The firm expects a positive Q1 outlook to ease investor concerns. PINS is one of the best affordable stocks to monitor.
Pinterest, Inc. (NYSE:PINS) achieved a huge milestone in Q4 2024, earning over $1 billion in revenue for the first time. Full-year revenue was $3.65 billion, up 19% from last year, while monthly active users grew 11% to 553 million. The company reported a Q4 net income of $1.85 billion, due in part to a tax benefit. PINS ended the year with $1.03 billion in adjusted EBITDA, with the impressive financials credited to higher user engagement and a stronger ad platform. Looking ahead, Pinterest expects Q1 2025 revenue between $837 to $852 million.
According to Insider Monkey’s fourth-quarter database, 73 hedge funds were long Pinterest, Inc. (NYSE:PINS), compared to 66 funds in the third quarter. Paul Singer’s Elliott Management was the largest stakeholder of the company, with 28 million shares valued at $812 million.
9. PG&E Corporation (NYSE:PCG)
Number of Hedge Fund Holders: 74
Share Price as of March 22: $16.88
P/E Ratio as of March 22: 14.68
PG&E Corporation (NYSE:PCG), through its subsidiary Pacific Gas and Electric Company, supplies electricity and natural gas to customers in California. It generates power from nuclear, hydro, fossil fuels, and solar energy while managing a vast network of transmission lines, substations, and pipelines. PCG ranks 9th on our list of the best affordable stocks. On February 21, the company declared a quarterly dividend of $0.025 per share. The dividend will be distributed on April 15, to shareholders on record as of March 31. PCG aims for a dividend payout of about 20% of core earnings by 2028.
PG&E Corporation (NYSE:PCG) posted Q4 2024 adjusted earnings of $0.31 per share, just shy of analyst estimates of $0.32. For the full year 2024, core earnings climbed to $1.36 per share, up from $1.23 in 2023, due to increased customer capital investment. PG&E also raised its 2025 earnings forecast to $1.48-$1.52 per share, edging past analyst expectations. On the operations side, the company marked its second straight year with no major wildfires caused by its equipment and strengthened 366 miles of its system to reduce wildfire risk. PG&E’s operating cash flow soared to $8 billion in 2024 from $4.7 billion the previous year, while cost-cutting efforts saved over $200 million for the third year in a row.
Among the hedge funds tracked by Insider Monkey, PG&E Corporation (NYSE:PCG) was part of 74 portfolios at the end of Q4 2024, compared to the prior quarter, 49 funds had invested in the stock. Dan Loeb’s Third Point was the biggest stakeholder of the company, with 48.5 million shares worth $978.7 million.
8. Verizon Communications Inc. (NYSE:VZ)
Number of Hedge Fund Holders: 74
Share Price as of March 22: $43.99
P/E Ratio as of March 22: 10.63
Ranking 8th on our list of the best affordable stocks is Verizon Communications Inc. (NYSE:VZ), a New York-based provider of communications, technology, and entertainment services globally. On March 12, Verizon Business launched Trusted Connection, a cybersecurity solution that protects businesses from cyber threats by securing connections and devices across their entire digital network. It is designed for midsize companies that need strong security without the hassle of managing it themselves.
Verizon Communications Inc. (NYSE:VZ) had a solid Q4 and full-year 2024, reaching its financial targets for wireless revenue growth, adjusted EBITDA, and free cash flow. EPS for the year climbed to $4.14 from $2.75 in 2023, while adjusted EPS came in at $4.59, slightly lower than last year. Annual revenue grew 0.6% to $134.8 billion, and free cash flow increased to $19.8 billion. Verizon Communications Inc. (NYSE:VZ) also invested $17.1 billion in expanding its network and reported $36.9 billion in operating cash flow, boosted by a $2 billion gain from its tower deal with Vertical Bridge.
Among the hedge funds tracked by Insider Monkey, 74 funds were bullish on Verizon Communications Inc. (NYSE:VZ) in Q4 2024, compared to 57 funds in the preceding quarter. Rajiv Jain’s GQG Partners was the biggest stakeholder of the company, with 12.3 million shares valued at $493.6 million.
7. JD.com, Inc. (NASDAQ:JD)
Number of Hedge Fund Holders: 78
Share Price as of March 22: $42.24
P/E Ratio as of March 22: 11.35
JD.com, Inc. (NASDAQ:JD), a major e-commerce and supply chain company in China, operates an online platform selling electronics, home goods, personal care, and wellbeing products. In addition to that, the company provides logistics, digital solutions, and asset management services to businesses. It is one of the best affordable stocks that investors should look out for.
JD.com, Inc. (NASDAQ:JD)’s Q4 revenue increased 13.4% year-over-year to $147.5 billion, with full-year revenue up 6.8% to $158.8 billion. Operating income surged to $1.2 billion in Q4, compared to $0.3 billion the previous year, while full-year operating income reached $5.3 billion. Net income for shareholders nearly tripled in Q4 to $1.4 billion and totaled $5.7 billion for the year, reflecting solid financial performance.
On March 6, JD.com, Inc. (NASDAQ:JD) declared a $1 per ADS annual cash dividend, reflecting a 31.6% increase from the last dividend of $0.76. The dividend is distributable on April 29, to shareholders on record as of April 8. Last year, JD bought back 255.3 million shares for $3.6 billion, reducing its outstanding shares by 8.1%. The company also initiated a new $5 billion repurchase plan running through August 2027.
According to Insider Monkey’s fourth-quarter database, 78 hedge funds were long JD.com, Inc. (NASDAQ:JD), compared to 75 funds in the last quarter.
6. AT&T Inc. (NYSE:T)
Number of Hedge Fund Holders: 80
Share Price as of March 22: $27.02
P/E Ratio as of March 22: 18.13
AT&T Inc. (NYSE:T) is a global telecom and tech company that provides wireless services, internet, fiber, and business solutions. The company was incorporated in 1983 and is based in Dallas, Texas. On March 12, it announced a huge tech breakthrough, proving its network can handle the skyrocketing demand from AI, streaming, and cloud computing. The company successfully tested an incredibly fast 1.6 terabit-per-second connection, four times faster than standard speed, over a 296-km stretch between Newark and Philadelphia. This sets the stage for next-level internet speeds, giving businesses the power to fully tap into AI and other new-age tech. AT&T Inc. (NYSE:T) is one of the best affordable stocks to monitor.
On January 16, Argus just upgraded AT&T Inc. (NYSE:T) from Hold to Buy, assigning a $27 price target to the stock. With cost-cutting measures, network upgrades, and a renewed focus on core services, analysts see solid growth potential in AT&T. The company, bringing in $122 billion annually with a P/E ratio of 17.89, is expected to see steady gains in earnings and cash flow, Argus wrote in a note to investors.
AT&T Inc. (NYSE:T) finished 2024 with solid growth, fueled by strong demand for 5G and fiber. The company added 1.7 million postpaid phone customers, saw a 3.5% increase in service revenue for the year, and continued to lead the industry in customer retention. In Q4, it brought in $32.3 billion in revenue, with $0.56 in earnings per share. The company generated $11.9 billion in cash from operations, with $6.8 billion spent on capital expenditures and $7.1 billion in total investment. Free cash flow came in at $4.8 billion, reflecting AT&T’s efforts to achieve a balanced cash flow cycle.
According to Insider Monkey’s fourth quarter database, 80 hedge funds were bullish on AT&T Inc. (NYSE:T), compared to 59 funds in the preceding quarter. Rajiv Jain’s GQG Partners was the largest stakeholder of the company, with 96.7 million shares worth $2.20 billion.
5. Comcast Corporation (NASDAQ:CMCSA)
Number of Hedge Fund Holders: 80
Share Price as of March 22: $36.75
P/E Ratio as of March 22: 8.88
Comcast Corporation (NASDAQ:CMCSA), ranking 5th among the best affordable stocks, is a Pennsylvania-based multinational media and technology giant. On January 29, the company announced the launch of ultra-low lag Internet for smoother gaming, video calls, and virtual reality on apps like FaceTime, Meta headsets, and NVIDIA’s GeForce NOW. Unlike 5G home Internet, it offers a more stable connection. After a year of successful testing, the initial rollout has begun in cities like Atlanta, Chicago, and Philadelphia, with nationwide expansion planned.
On January 30, Comcast Corporation (NASDAQ:CMCSA) announced a $0.33 per share quarterly dividend, a 6.5% increase from its earlier dividend of $0.31. The dividend is payable on April 23, to shareholders of the company recorded as of April 2. The company also approved a new $15 billion share repurchase program with no set expiration date.
Comcast Corporation (NASDAQ:CMCSA) had a strong 2024 overall. Fourth quarter adjusted EBITDA grew 9.9% and 1.2% for the year, while adjusted EPS jumped 14% in Q4 and 9% for the full year. The company generated $3.3 billion in free cash flow for Q4 and $12.5 billion for the year. Shareholders saw a total return of $13.5 billion, including $8.6 billion in stock buybacks, reducing outstanding shares by 5%.
Among the hedge funds tracked by Insider Monkey in Q4, 80 funds reported owning stakes in Comcast Corporation (NASDAQ:CMCSA), compared to 72 funds in the last quarter.
4. Schlumberger Limited (NYSE:SLB)
Number of Hedge Fund Holders: 80
Share Price as of March 22: $40.99
P/E Ratio as of March 22: 13.18
Schlumberger Limited (NYSE:SLB) ranks 4th on our list of the best affordable stocks. SLB is a global technology provider for the energy industry, offering services across four business segments – Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company specializes in field development, hydrocarbon production, and carbon management, while also integrating energy systems.
On December 24, 2024, Stifel maintained a Buy rating on Schlumberger Limited (NYSE:SLB) but lowered its price target from $60 to $59. The firm views Schlumberger as a strong global player with solid free cash flow and shareholder returns, calling it a reliable, high-quality investment.
In 2024, Schlumberger Limited (NYSE:SLB) managed to grow revenue by 10% and adjusted EBITDA by 12%. The company generated $3.99 billion in free cash flow for the year, returned $3.27 billion to shareholders, and cut net debt by $571 million. International revenue jumped 12%, with record growth in the Middle East & Asia, up 18% year-over-year, and 13% year-over-year gains in Europe & Africa, partly due to the Aker subsea acquisition. SLB is focused on expanding margins and increasing shareholder returns, approving a 3.6% dividend hike and a $2.3 billion share buyback. The company aims to raise total shareholder returns from $3.3 billion in 2024 to at least $4 billion in 2025.
According to Insider Monkey’s Q4 data, 80 hedge funds owned stakes in Schlumberger Limited (NYSE:SLB), compared to 65 funds in Q3. Jean-Marie Eveillard’s First Eagle Investment Management was the largest stakeholder of the company, with 27.8 million shares valued at over $1 billion.
3. Delta Air Lines, Inc. (NYSE:DAL)
Number of Hedge Fund Holders: 84
Share Price as of March 22: $46.77
P/E Ratio as of March 22: 8.77
Delta Air Lines, Inc. (NYSE:DAL) is one of the biggest American airlines, flying passengers and cargo across the world. On March 5, the company announced a partnership with JetZero to develop a next-generation, fuel-efficient aircraft with a unique blended-wing-body design. This technology could make planes up to 50% more fuel efficient, supporting Delta’s goal of net-zero emissions by 2050. JetZero, backed by a US Air Force grant, aims to launch a full-scale demonstrator by 2027. This partnership is a significant step in Delta’s 2023 Sustainability Roadmap to revolutionize air travel. DAL is one of the best affordable stocks to add to an investment portfolio.
Delta Air Lines, Inc. (NYSE:DAL) beat revenue expectations with 5.7% growth in the December quarter. Demand picked up throughout the fourth quarter, fueled by solid operational performance and increased travel from both leisure and corporate customers. Premium and loyalty revenue made up 57% of total earnings, with American Express contributions growing 14% year-over-year. International travel also saw steady gains, especially on Transatlantic routes. Delta generated $3.4 billion in free cash flow for 2024 and improved its credit rating, with plans to top $4 billion in 2025 to pay down debt and strengthen its financial position. The company paid a quarterly dividend of $0.15 per share on March 20.
According to Insider Monkey’s fourth quarter database, 84 hedge funds were long Delta Air Lines, Inc. (NYSE:DAL), up from 57 funds in the last quarter. Harris Associates was the largest stakeholder of the company, with 9.8 million shares worth $594 million.
2. Pfizer Inc. (NYSE:PFE)
Number of Hedge Fund Holders: 92
Share Price as of March 22: $26.28
P/E Ratio as of March 22: 18.64
Pfizer Inc. (NYSE:PFE) is a global pharmaceutical giant that develops and sells medicines and vaccines for heart health, infectious diseases, migraines, immune disorders, and cancer. On March 11, Pfizer and Arvinas, a clinical-stage biotechnology company, announced promising results from a late-stage trial for vepdegestrant, a new experimental oral drug for advanced breast cancer. The drug is meant to slow down cancer growth in patients with a specific gene mutation better than the current treatment, fulvestrant. The drug was generally well tolerated, and further studies on survival rates are ongoing. The FDA has given it Fast Track status, meaning it could get approved faster if further results are positive.
In 2024, Pfizer Inc. (NYSE:PFE) raked in $63.6 billion in revenue, up from $59.6 billion the year before. Even without COVID-related products, sales grew by 12% year-over-year, beating Street expectations. The company gave back $9.5 billion to shareholders through dividends, invested $10.8 billion in research and development, and made reducing debt a priority, paying off $7.8 billion, including $2.3 billion in maturing debt and $5.5 billion in short-term loans during 2024. Pfizer’s goal is to further cut debt by the end of 2025. It is one of the best affordable stocks to invest in.
According to Insider Monkey’s fourth quarter database, 92 hedge funds were long Pfizer Inc. (NYSE:PFE), compared to 80 funds in the previous quarter. Ric Dillon’s Diamond Hill Capital is the leading stakeholder of the company, with 18.6 million shares amounting to $494 million.
1. Bank of America Corporation (NYSE:BAC)
Number of Hedge Fund Holders: 113
Share Price as of March 22: $42.47
P/E Ratio as of March 22: 13.23
Bank of America Corporation (NYSE:BAC) is one of the largest financial institutions in the world, providing banking, investment, and lending services to individuals, businesses, and governments. On January 29, the company announced a quarterly dividend of $0.26 per share, to be distributed on March 28, to shareholders on record as of March 7. Preferred Series B shareholders on record by April 11 will also receive a dividend payout of $1.75 per share on April 25. BAC ranks 1st on our list of the best affordable stocks to invest in.
Bank of America Corporation (NYSE:BAC) reported $6.7 billion in Q4 2024 net income, more than double what it earned last year. Revenue jumped 15% to $25.3 billion, driven by higher fees from asset management, investment banking, and trading. The company’s net interest income also grew by 3%, boosted by loan growth and market activity, though lower interest rates offset some of the gains. Deposits and loans both rose by 3% year-over-year in Q4, showing solid growth. The bank also returned $5.5 billion to shareholders through dividends and stock buybacks during the quarter.
According to Insider Monkey’s fourth quarter database, 113 hedge funds were bullish on Bank of America Corporation (NYSE:BAC), compared to 98 funds that had invested in the company in the prior quarter. Warren Buffett’s Berkshire Hathaway was the biggest stakeholder of BAC, with a $30 billion position.
Overall, Bank of America Corporation (NYSE:BAC) ranks first on our list of the best affordable stocks to buy according to hedge funds. While we acknowledge the potential of BAC to grow, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BAC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
