5 Best Stocks to Buy According to Warren Buffett

2. Bank of America Corporation (NYSE: BAC)

Buffet’s Stake Value: $39,080,793,000
Percent of Warren Buffett’s 13F Portfolio: 14.45%
Number of Hedge Fund Holders: 97

Bank of America Corporation (NYSE: BAC) is an American multinational investment bank and financial services holding company. It is one of the world’s leading financial institutions, offering services in banking, investing, asset management, and other financial management products. It is one of the best stocks to buy according to Warren Buffett, as Berkshire Hathaway has over 1 billion shares in the company, worth $30.61 billion. Bank of America Corporation’s (NYSE: BAC) stock price has soared by over 40% this year.

ClearBridge Investments has published its ‘Sustainability Leaders Strategy’ Q1 2021 investor letter. Here is what ClearBridge Investments has to say about Bank of America Corporation (NYSE: BAC) in its first-quarter 2021 investor letter.

“Higher long-term interest rates supported financials such as Bank of America, which has shown both defensive and offensive characteristics in the past year. We believe it continues to be the least risky large bank from a credit standpoint, with conservative underwriting and controlled risk taking, a leading consumer deposit franchise, scale and technology. It is also a leader in its commitments to sustainability, or as it terms it, responsible growth. Disclosure and reporting at all levels form a large part of this commitment, including gender diversity and equality, environmental commitments and support of communities in which it operates. In the first quarter Bank of America announced it is setting a goal of net-zero greenhouse gas (GHG) emissions in its supply chain and operations, and notably also in its financing activities, before 2050.”