Verizon Communications Inc. (NYSE:VZ) Stock Holdings Lessened by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 78,228 shares of the cell phone carrier’s stock after selling 613 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Verizon Communications were worth $3,128,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Austin Private Wealth LLC boosted its holdings in shares of Verizon Communications by 3.0% during the 3rd quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after buying an additional 243 shares in the last quarter. Cary Street Partners Asset Management LLC boosted its holdings in shares of Verizon Communications by 3.4% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after buying an additional 249 shares in the last quarter. Western Financial Corp CA boosted its holdings in shares of Verizon Communications by 1.5% during the 3rd quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier’s stock worth $786,000 after buying an additional 250 shares in the last quarter. First Personal Financial Services boosted its holdings in shares of Verizon Communications by 0.3% during the 3rd quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock worth $4,091,000 after buying an additional 250 shares in the last quarter. Finally, Encompass Wealth Advisors LLC boosted its holdings in shares of Verizon Communications by 2.0% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock worth $562,000 after buying an additional 250 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Up 0.2 %

VZ stock opened at $39.94 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The company has a market capitalization of $168.14 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 4.17 and a beta of 0.45. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $45.36. The stock has a fifty day moving average of $40.18 and a 200-day moving average of $41.56.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period in the prior year, the company posted $1.08 EPS. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.6775 dividend. The ex-dividend date was Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.78%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Wall Street Analyst Weigh In

VZ has been the topic of a number of recent research reports. KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Royal Bank of Canada cut their target price on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Sanford C. Bernstein initiated coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price on the stock. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Wolfe Research increased their price target on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $46.08.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 39,085 shares of company stock worth $1,582,995 in the last quarter. 0.02% of the stock is owned by company insiders.

About Verizon Communications

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).