Verizon Communications Inc. (NYSE:VZ) Stock Position Cut by Regatta Capital Group LLC

Regatta Capital Group LLC trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,112 shares of the cell phone carrier’s stock after selling 2,463 shares during the quarter. Regatta Capital Group LLC’s holdings in Verizon Communications were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Verizon Communications in the third quarter worth about $31,000. Accordant Advisory Group Inc grew its stake 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 purchasing an additional 450 shares during the last quarter. Legend Financial Advisors Inc. raised its holdings 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 worth $31,000 after purchasing an additional 320 shares in the last quarter. Cedar Mountain Advisors LLC lifted its stake 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 valued at $39,000 after purchasing an additional 839 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in Verizon Communications during the third quarter worth approximately $44,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VZ shares. TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Tigress Financial upped their target price on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. UBS Group lifted their price target on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Scotiabank upped their price objective 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, Sanford C. Bernstein began coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Verizon Communications has an average rating of “Hold” and a consensus target price of $46.29.

Verizon Communications Trading Up 0.9 %

Shares of NYSE VZ opened at $39.54 on Friday. The business has a 50 day simple moving average of $40.85 and a 200 day simple moving average of $41.61. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36. The stock has a market cap of $166.43 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 3.27 and a beta of 0.46. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate 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 in the prior year, the company earned $1.08 earnings per share. On average, research analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared 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 of this dividend is Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.85%. Verizon Communications’s dividend payout ratio is currently 116.81%.

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).