5 Best Warren Buffett Dividend Stocks To Buy Now

4. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 91

Bank of America Corporation (NYSE:BAC) is a North Carolina-based financial services company that also offers investment banking services to its consumers. The company recently announced Q2 2023 earnings and showed strong results, with revenue of $25.2 billion, up 3% from the same period last year. During the quarter, it also distributed $2.3 billion to shareholders through dividends and share repurchases.

Bank of America Corporation (NYSE:BAC), one of the best dividend stocks on our list, currently pays a quarterly dividend of $0.22 per share. It plans to announce a 9% hike in its quarterly dividend at the beginning of the third quarter of 2023. The stock’s dividend yield on July 18 came in at 2.87%.

At the end of Q1 2023, 91 hedge funds owned stakes in Bank of America Corporation (NYSE:BAC), according to our data. The total value of these stakes is over $31.7 billion.

Oakmark Funds mentioned Bank of America Corporation (NYSE:BAC) in its Q2 2023 investor letter. Here is what the firm has to say:

“Two financial industry companies led the six-month detractors’ list, however. Charles Schwab and Bank of America Corporation (NYSE:BAC) both reported material mark-to-market unrealized losses in their marketable securities holdings, an outcome of the increase in interest rates early in the year.”