Teamwork Financial Advisors LLC Grows Holdings in Verizon Communications Inc. (NYSE:VZ)

Teamwork Financial Advisors LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,012 shares of the cell phone carrier’s stock after purchasing an additional 4,814 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Verizon Communications were worth $1,840,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VZ. Capital Performance Advisors LLP acquired a new position in shares of Verizon Communications during the third quarter valued at $31,000. Accordant Advisory Group Inc boosted its position 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 valued at $35,000 after purchasing an additional 450 shares during the period. Legend Financial Advisors Inc. boosted its position 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 during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of Verizon Communications in the 3rd quarter valued at $44,000. Finally, McClarren Financial Advisors Inc. boosted its position in shares of Verizon Communications by 762.6% in the 3rd 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. 62.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VZ. UBS Group raised their price objective on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Citigroup lifted their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Tigress Financial boosted their price objective on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.54.

Verizon Communications Price Performance

Verizon Communications stock opened at $38.95 on Thursday. The stock’s fifty day moving average price is $40.93 and its two-hundred day moving average price is $41.64. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market cap of $163.97 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same quarter last year, the company earned $1.22 EPS. The company’s revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current fiscal 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 issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s dividend payout ratio is presently 116.81%.

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).