TKG Advisors LLC Cuts Stake in Verizon Communications Inc. (NYSE:VZ)

TKG Advisors LLC decreased its position in Verizon Communications Inc. (NYSE:VZFree Report) by 23.8% during the 4th quarter, Holdings Channel reports. The fund owned 6,653 shares of the cell phone carrier’s stock after selling 2,079 shares during the quarter. TKG Advisors LLC’s holdings in Verizon Communications were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Norges Bank purchased a new stake in shares of Verizon Communications during the 4th quarter worth $1,882,164,000. Capital World Investors boosted its holdings in Verizon Communications by 127.6% during the fourth quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock worth $821,900,000 after buying an additional 12,220,777 shares in the last quarter. Capital Research Global Investors grew its position in Verizon Communications by 92.9% during the fourth quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock worth $851,989,000 after buying an additional 10,882,873 shares during the period. Third Point LLC purchased a new position in Verizon Communications in the fourth quarter valued at about $173,325,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Verizon Communications by 419.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,141,257 shares of the cell phone carrier’s stock valued at $193,825,000 after acquiring an additional 4,152,099 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and raised their price target for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Wells Fargo & Company decreased their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Royal Bank of Canada increased their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, Tigress Financial lifted their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $44.77.

View Our Latest Research Report on VZ

Verizon Communications Trading Down 0.3 %

Shares of NYSE:VZ traded down $0.11 during midday trading on Friday, reaching $39.67. The company’s stock had a trading volume of 10,480,588 shares, compared to its average volume of 14,693,011. The firm has a market cap of $166.98 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 2.89 and a beta of 0.42. The business has a 50 day moving average price of $40.03 and a 200 day moving average price of $39.85. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. The company had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.59 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Verizon Communications 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).

Further Reading

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZFree Report).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.