5 Stocks to Buy in 2021 According to Guy Spier’s Aquamarine Capital

3. Bank of America Corporation (NYSE: BAC)

Spier’s Stake Value: $31,658,000
Percentage of Guy Spier’s 13F Portfolio: 14.85%
Number of Hedge Fund Holders: 87

On October 11, Jefferies analyst Ken Usdin raised his price target on Bank of America Corporation (NYSE:BAC) to $48 from $41 and reiterated a “Hold” rating on the shares.

In the second quarter of 2021, Aquamarine Capital owned 767,845 shares in Bank of America Corporation (NYSE:BAC) worth $31.66 million. This represented 14.85% of the investment portfolio of Aquamarine Capital. Legendary investor and billionaire Warren Buffett’s Berkshire Hathaway is the most significant stakeholder in Bank of America Corporation (NYSE:BAC) out of the 873 hedge funds tracked by Insider Monkey at the end of the second quarter. The Oracle of Omaha owns 1.01 billion shares of the company worth $41.65 billion.

In its first-quarter 2021 investor letter, ClearBridge Investments, an investment management firm, mentioned Bank of America Corporation (NYSE:BAC). Here is what the fund said:

“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.”