Top 10 Dividend Stocks To Buy According To Hedge Funds

4. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 113

Bank of America Corporation (NYSE:BAC) is a North Carolina-based financial services company that offers a wide range of related services and products to its consumers. The company has a significant presence in retail banking and a well-developed digital platform, providing millions of customers with checking accounts, credit cards, mortgages, and lending services. Its investment banking and asset management divisions, which include Merrill and BofA Securities, offer advisory, trading, and financial planning solutions. In the past 12 months, the stock has surged by nearly 31%.

In Q4 2024, Bank of America Corporation (NYSE:BAC) reported solid financial performance, with revenue reaching $25.3 billion, up from $22 billion in the same period a year earlier. Net income more than doubled to $6.7 billion, compared to $3.1 billion the previous year. The bank also expanded its customer base, adding 213,000 new consumer checking accounts, marking six consecutive years of quarterly growth. In addition, it returned $2 billion to shareholders through dividend payments.

Bank of America Corporation (NYSE:BAC) is one of the best dividend stocks on our list as the company has been regularly paying dividends to shareholders for the past 27 years. It currently pays a quarterly dividend of $0.26 per share and has a dividend yield of 2.37%, as of February 25. Warren Buffett’s Berkshire Hathaway was the company’s leading stakeholder in Q4 2024.