Paradigm Asset Management Co. LLC Cuts Position in Verizon Communications Inc. (NYSE:VZ)

Paradigm Asset Management Co. LLC reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,548 shares of the cell phone carrier’s stock after selling 1,400 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Verizon Communications were worth $2,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Taylor Hoffman Wealth Management raised its stake in shares of Verizon Communications by 32.9% during the fourth quarter. Taylor Hoffman Wealth Management now owns 9,353 shares of the cell phone carrier’s stock valued at $353,000 after purchasing an additional 2,314 shares during the period. WealthTrust Axiom LLC boosted its holdings in shares of Verizon Communications by 2.1% during the fourth quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier’s stock valued at $4,479,000 after acquiring an additional 2,422 shares during the period. Portland Investment Counsel Inc. boosted its holdings in shares of Verizon Communications by 173.7% during the third quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after acquiring an additional 413,869 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in Verizon Communications by 1.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock worth $5,131,000 after purchasing an additional 1,616 shares during the period. Finally, GFS Advisors LLC acquired a new stake in Verizon Communications in the 4th quarter valued at about $212,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of NYSE VZ traded up $0.31 during mid-day trading on Monday, hitting $39.74. The company had a trading volume of 10,419,900 shares, compared to its average volume of 19,133,232. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42. The stock’s 50-day moving average price is $40.31 and its 200-day moving average price is $39.49. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $167.28 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 2.88 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Free Report) last released its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The company had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. Verizon Communications’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.6 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analysts Set New Price Targets

VZ has been the topic of several recent analyst reports. Citigroup boosted their price objective on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada lifted their price objective on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.36.

Check Out Our Latest Stock Analysis on VZ

Verizon Communications Company Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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