Bank of America Corp DE Buys 5,779 Shares of United States Cellular Co. (NYSE:USM)

Bank of America Corp DE increased its stake in United States Cellular Co. (NYSE:USM - Free Report) by 64.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,791 shares of the Wireless communications provider's stock after purchasing an additional 5,779 shares during the period. Bank of America Corp DE's holdings in United States Cellular were worth $928,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Amundi increased its position in shares of United States Cellular by 17.6% in the 4th quarter. Amundi now owns 1,628 shares of the Wireless communications provider's stock valued at $99,000 after buying an additional 244 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of United States Cellular by 37.6% during the 4th quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider's stock worth $104,000 after buying an additional 453 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of United States Cellular by 1,917.3% during the 4th quarter. Venturi Wealth Management LLC now owns 2,219 shares of the Wireless communications provider's stock worth $139,000 after buying an additional 2,109 shares during the last quarter. Vestcor Inc acquired a new position in shares of United States Cellular during the 4th quarter worth about $187,000. Finally, Blair William & Co. IL bought a new stake in shares of United States Cellular in the 4th quarter valued at about $220,000. Institutional investors own 18.03% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on USM. JPMorgan Chase & Co. lowered their price target on shares of United States Cellular from $88.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, May 28th. Wall Street Zen raised shares of United States Cellular from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Finally, Raymond James reiterated an "outperform" rating and set a $78.00 price target (down previously from $83.00) on shares of United States Cellular in a research report on Monday, May 5th.

United States Cellular Price Performance

Shares of NYSE USM traded down $1.38 during trading hours on Wednesday, hitting $61.24. 129,042 shares of the stock were exchanged, compared to its average volume of 177,409. United States Cellular Co. has a 1-year low of $47.59 and a 1-year high of $70.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.57. The company has a market cap of $5.21 billion, a PE ratio of -170.10 and a beta of 0.35. The company's fifty day simple moving average is $63.81 and its two-hundred day simple moving average is $64.12.

United States Cellular (NYSE:USM - Get Free Report) last issued its earnings results on Friday, May 2nd. The Wireless communications provider reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.16). United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The company had revenue of $891.00 million during the quarter, compared to analyst estimates of $924.90 million. On average, sell-side analysts predict that United States Cellular Co. will post 0.57 EPS for the current year.

United States Cellular Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.