Verizon Communications Inc. (NYSE:VZ) Position Lessened by Tobam

Tobam reduced its position in Verizon Communications Inc. (NYSE:VZ) by 29.5% in the 4th quarter, Holdings Channel reports. The fund owned 179,590 shares of the cell phone carrier’s stock after selling 75,274 shares during the period. Verizon Communications makes up about 2.2% of Tobam’s investment portfolio, making the stock its 6th biggest position. Tobam’s holdings in Verizon Communications were worth $7,182,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications in the 3rd quarter worth about $31,000. Legend Financial Advisors Inc. lifted its holdings in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 320 shares in the last quarter. Accordant Advisory Group Inc boosted its holdings in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Verizon Communications in the fourth quarter worth $38,000. Finally, Cedar Mountain Advisors LLC grew its holdings in Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after acquiring an additional 839 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

NYSE VZ opened at $39.95 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $168.16 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 4.11 and a beta of 0.45. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The company has a 50 day moving average price of $40.36 and a two-hundred day moving average price of $41.53.

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

Verizon Communications Cuts Dividend

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

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now directly owns 14,590 shares in the company, valued at $596,439.20. This represents a 43.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 39,085 shares of company stock valued at $1,582,995 in the last ninety days. Company insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on VZ shares. TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price for the company. Argus raised shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. UBS Group upped their target price on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada lowered their price target on Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.08.

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).