Consilio Wealth Advisors LLC Sells 311 Shares of Bank of America Co. (NYSE:BAC)

Consilio Wealth Advisors LLC cut its holdings in Bank of America Co. (NYSE:BAC) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,520 shares of the financial services provider’s stock after selling 311 shares during the period. Consilio Wealth Advisors LLC’s holdings in Bank of America were worth $374,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of Bank of America during the second quarter valued at about $27,000. Kennebec Savings Bank purchased a new position in shares of Bank of America during the third quarter valued at about $29,000. Highline Wealth Partners LLC increased its position in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the period. Christopher J. Hasenberg Inc increased its position in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Bank of America during the third quarter valued at about $45,000. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BAC shares. Morgan Stanley cut shares of Bank of America from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $48.00 to $55.00 in a research report on Monday, December 9th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a report on Friday, October 18th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Oppenheimer cut their price objective on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Barclays upped their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Bank of America Price Performance

Shares of NYSE BAC traded up $0.01 during midday trading on Monday, reaching $45.12. The stock had a trading volume of 22,796,220 shares, compared to its average volume of 31,812,879. The stock has a 50-day moving average of $45.53 and a 200-day moving average of $42.22. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $346.20 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33. Bank of America Co. has a 12-month low of $31.27 and a 12-month high of $48.08.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. Bank of America’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. As a group, research analysts anticipate that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 6th were paid a $0.26 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.30%. Bank of America’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total value of $369,952,591.90. Following the completion of the sale, the insider now owns 766,305,462 shares in the company, valued at approximately $32,606,297,408.10. This trade represents a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Bank of America Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.