5 Cheap Value Stocks to Buy According to Warren Buffett

2. Bank of America Corporation (NYSE:BAC)

Value of Berkshire Hathaway’s 13F Position: $30.505 billion

Number of Hedge Fund Holders: 97

Bank of America Corporation (NYSE:BAC) is a banking firm that offers investment management, asset management, equities trading, mutual funds, and banking services along with many other services.

Berkshire Hathaway held over 1 billion shares of Bank of America Corporation (NYSE:BAC), valued at $30.505 billion in the third quarter of 2022. The firm represented 10.3% of the hedge fund’s portfolio. Moreover, two of the significant shareholders of the company, GQG Partners and Fisher Asset Management increased their holdings in Bank of America Corporation (NYSE:BAC) by 8732% and 1357%, respectively.

As of December 21, Bank of America Corporation (NYSE:BAC)’s shares have lost almost 30% of their value and its FWD PE ratio stands at 8.5x. Furthermore, 12 analysts have covered the company stock in the last three months, and their average price target stands at $39.82, compared to the current stock price of $32.68.