First Command Advisory Services Inc. Sells 2,159 Shares of Verizon Communications Inc. (NYSE:VZ)

First Command Advisory Services Inc. trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,352 shares of the cell phone carrier’s stock after selling 2,159 shares during the quarter. First Command Advisory Services Inc.’s holdings in Verizon Communications were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Verizon Communications in the 3rd quarter valued at approximately $31,000. Legend Financial Advisors Inc. boosted its position in shares of Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Verizon Communications in the fourth quarter worth $33,000. Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications in the fourth quarter worth $38,000. Finally, Cedar Mountain Advisors LLC increased 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 acquiring an additional 839 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Down 1.3 %

Shares of VZ opened at $43.16 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The company has a market cap of $181.69 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 4.45 and a beta of 0.45. The stock has a fifty day moving average price of $40.07 and a two-hundred day moving average price of $41.68. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $45.36.

Verizon Communications (NYSE:VZ) last released 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 net margin of 12.99% and a return on equity of 19.80%. During the same period in the prior year, the firm earned $1.08 earnings per share. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a dividend of $0.6775 per share. The ex-dividend date was Friday, January 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.28%. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.

Insider Activity at Verizon Communications

In other 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 transaction of $453,154.80. Following the transaction, the chief executive officer now owns 14,590 shares of the company’s stock, 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 through this link. Insiders sold a total of 39,085 shares of company stock valued at $1,582,995 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada cut their price objective on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Scotiabank lifted their price target on shares of Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Tigress Financial restated a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

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).