Allen Mooney & Barnes Investment Advisors LLC lowered its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,673 shares of the cell phone carrier’s stock after selling 2,054 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Verizon Communications were worth $1,187,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Verizon Communications in the third quarter valued at $31,000. Legend Financial Advisors Inc. grew its position in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 320 shares during the last quarter. Accordant Advisory Group Inc increased its holdings in shares of Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 450 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Verizon Communications during the 3rd quarter valued at about $44,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Verizon Communications by 762.6% in the third quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock valued at $48,000 after purchasing an additional 938 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.
Verizon Communications Price Performance
Verizon Communications stock opened at $38.33 on Wednesday. The business’s 50-day simple moving average is $41.17 and its 200 day simple moving average is $41.76. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The stock has a market cap of $161.35 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 3.05 and a beta of 0.46. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36.
Verizon Communications Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 116.81%.
Analyst Ratings Changes
Several analysts recently commented on the company. UBS Group raised their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada lifted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Monday, September 23rd. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Scotiabank raised their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, Bank of America boosted their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.54.
Check Out Our Latest Stock Analysis on Verizon Communications
Verizon Communications Company Profile
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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