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BANK OF AMERICA CORP /DE/ Buys 4, Sells 1 in 1st Quarter

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May 19, 2022
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BANK OF AMERICA CORP /DE/ recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

The Bank of America Corporation can be traced back to the late 1800s with the Bank of Italy in San Francisco. In 1928, Armadeo Giannini’s Bank of Italy would be merged with the Bank of America to create one of the largest banks in the country. The newly merged bank would continue to expand in California for the next three decades, adding new technologies such as BankAmericard that allowed credit cards to be directly connected to bank accounts. By the 1960s, Bank of America would expand its operations, gaining an international presence. During that time, it also focused on becoming a “department store of finance,” marking a period of great innovations as the bank strove to make its range of products and services as wide as possible. In 1968, the BankAmerica Corporation was created as a holding company. By that decade the company had already created the largest bank in the world. However, as the 1980s came, many of its loans went bad and its stocks plummeted. It would not be until the end of the decade that the bank would restructure its operations and become profitable again. When Bank of America did recover, it went heavily expanded its operations, opening new branches in various states and merging with Security Pacific Corp. in 1992, amongst other companies. In 1998, the bank would merge with NationsBank to become the Bank of America it is now known as. Today the company has over $2 trillion in total assets, offering an extremely diverse array of products and services under the many subsidiaries it acts under with divisions such as Consumer & Business Banking, Global Banking, Global Markets, and Legacy Assets and Servicing, amongst others. It now has branches in all 50 of the states with many other centers worldwide, creating a network that utilizes over 5000 banking centers and online and mobile platforms to serve its clients.

As of the latest 13F report, the guru’s equity portfolio contained 8237 stocks valued at a total of $1,026,865,000,000. The top holdings were AAPL(2.46%), MSFT(2.34%), and VOO(2.09%).

According to GuruFocus data, these were BANK OF AMERICA CORP /DE/’s top five trades of the quarter.

Blackrock Muni Interm Duration Fund Inc


During the quarter, BANK OF AMERICA CORP /DE/ bought 2,746 shares of NYSE:MUI for a total holding of 5,617. The trade had a 0% impact on the equity portfolio. During the quarter, the stock traded for an average price of $12.64.

On 05/19/2022, Blackrock Muni Interm Duration Fund Inc traded for a price of $11.6 per share and a market cap of $446,152,000. The stock has returned -19.55% over the past year.

GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 2 out of 10.

In terms of valuation, Blackrock Muni Interm Duration Fund Inc has a price-earnings ratio of 20.81, a price-book ratio of 0.73 and a price-sales ratio of 16.85.

BlackRock MuniHoldings New Jersey Quality Fund Inc


BANK OF AMERICA CORP /DE/ reduced their investment in NYSE:MUJ by 159,451 shares. The trade had a 0% impact on the equity portfolio. During the quarter, the stock traded for an average price of $12.95.

On 05/19/2022, BlackRock MuniHoldings New Jersey Quality Fund Inc traded for a price of $12.66 per share and a market cap of $380,875,000. The stock has returned -13.27% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 2 out of 10.

In terms of valuation, BlackRock MuniHoldings New Jersey Quality Fund Inc has a price-book ratio of 0.84.

The price-to-GF Value ratio is 0.33, earning the stock a GF Value rank of 2.

iShares Core S&P 500 ETF


During the quarter, BANK OF AMERICA CORP /DE/ bought 29,303,453 shares of ARCA:IVV for a total holding of 45,323,184. The trade had a 1.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $445.9.

On 05/19/2022, iShares Core S&P 500 ETF traded for a price of $394.53 per share and a market cap of $277,102,040,000. The stock has returned -3.58% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

In terms of valuation, iShares Core S&P 500 ETF has a price-earnings ratio of 21.58 and a price-book ratio of 4.14.

Vanguard S&P 500 ETF


During the quarter, BANK OF AMERICA CORP /DE/ bought 31,984,063 shares of ARCA:VOO for a total holding of 51,735,748. The trade had a 1.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $408.14.

On 05/19/2022, Vanguard S&P 500 ETF traded for a price of $360.89 per share and a market cap of $243,832,679,000. The stock has returned -3.54% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

In terms of valuation, Vanguard S&P 500 ETF has a price-earnings ratio of 20.17 and a price-book ratio of 3.84.

Vanguard Value ETF


During the quarter, BANK OF AMERICA CORP /DE/ bought 32,215,319 shares of ARCA:VTV for a total holding of 118,394,508. The trade had a 0.46% impact on the equity portfolio. During the quarter, the stock traded for an average price of $145.23.

On 05/19/2022, Vanguard Value ETF traded for a price of $137.14 per share and a market cap of $95,888,799,000. The stock has returned 1.63% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

In terms of valuation, Vanguard Value ETF has a price-earnings ratio of 15.60 and a price-book ratio of 2.52.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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