Bank Of America Corp (BAC) Is A Long Time Berkshire Hathaway Holding

Bank Of America Corp (NYSE:BAC) is one of the 10 Best Long-Term Stocks to Buy Now According to Warren Buffett.

Bank Of America Corp (NYSE:BAC) is another long-time Berkshire Hathaway holding. The investment giant had disclosed holding 679 million shares that were worth $17.2 billion in Q3 2017. It maintained this level until Q2 2018 and saw the stake’s value jump to $19.1 billion. Then, Berkshire gradually grew the number of shares that it held to 1.01 billion in Q3 2020. It sustained these holdings until Q4 2022 and bumped them up to 1.03 billion in the subsequent quarter. The stake’s value peaked at $41 billion in Q2 2024, and it, and the number of shares have dropped since then. The latest stake is worth $25 billion and comes courtesy of 513 million.

Bank Of America Corp (BAC) Is A Long Time Berkshire Hathaway Holding

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Citi was out with constructive coverage for Bank Of America Corp (NYSE:BAC)’s shares on June 23rd. It reiterated a Buy rating and increased the share price target to $66 from $62. The bank based its optimism on Bank Of America Corp (NYSE:BAC)’s commentary and remarked that it expected the coverage target to deliver strong second quarter earnings. On the 26th, Truist raised the share price target to $64 from $61 and kept a Buy rating on the stock.

While we acknowledge the risk and potential of BAC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BAC and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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