Verizon Communications Inc. (NYSE:VZ) Shares Sold by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. reduced its position in Verizon Communications Inc. (NYSE:VZ) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,174 shares of the cell phone carrier’s stock after selling 332 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Verizon Communications were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Verizon Communications in the third quarter worth about $31,000. Legend Financial Advisors Inc. increased its stake in shares of Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares in the last quarter. Accordant Advisory Group Inc raised its holdings in 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 purchasing an additional 450 shares during the period. Cedar Mountain Advisors LLC boosted its position in Verizon Communications by 655.5% during the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after purchasing an additional 839 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Verizon Communications in the third quarter valued at approximately $44,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

Verizon Communications stock opened at $39.54 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average price of $40.85 and a 200 day moving average price of $41.61. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The stock has a market cap of $166.43 billion, a P/E ratio of 17.04, a PEG ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. During the same quarter last year, the company posted $1.08 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.6775 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.85%. Verizon Communications’s dividend payout ratio is currently 116.81%.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of recent analyst reports. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. KeyCorp downgraded shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Scotiabank boosted their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Finally, TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Verizon Communications has an average rating of “Hold” and an average target price of $46.29.

Verizon Communications 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).