5 Stocks that Helped Warren Buffett Make $4.6 Billion in Dividends

1. Bank of America Corporation (NYSE: BAC)

Number of Hedge Fund Holders: 87
Dividend Yield: 2.06%
Dividend Income Contributed: $850 million

Bank of America Corporation (NYSE: BAC) is a financial services company offering a range of banking and financial products to consumers including small and middle-market businesses, individuals, institutional investors, large corporations, and governments. The company ranks 1st on our list of dividend stocks that helped Warren Buffett make $4.6 billion in dividends and operates from its headquarters in North Carolina.

At the start of July, David Konrad, an analyst at Keefe Bruyette, assumed coverage of shares of Bank of America Corporation (NYSE: BAC). The analyst holds a Market Perform rating on the stock alongside a $40 price target.

In the second quarter of 2021, Bank of America Corporation (NYSE: BAC) had an EPS of $1.03, beating estimates by $0.27. The company’s revenue was $21.47 billion but missed estimates by $330.18 million. Bank of America Corporation (NYSE: BAC) has gained 18.09% in the past 6 months and 35.83% year to date.

By the end of the second quarter of 2021, 87 hedge funds out of the 873 tracked by Insider Monkey held stakes in Bank of America Corporation (NYSE: BAC) worth roughly $46.5 billion. This is compared to 97 hedge funds in the previous quarter with a total stake value of approximately $45.3 billion.

You can also take a look at 10 Blue Chip Dividend Stocks Hedge Funds Are Buying and How Amazon Makes Money.

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