Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Kestra Investment Management LLC purchased a new stake in shares of Verizon Communications in the 3rd quarter worth about $3,376,000. Cyndeo Wealth Partners LLC boosted its position in shares of Verizon Communications by 9.7% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock worth $9,095,000 after buying an additional 17,855 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Verizon Communications by 1,934.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock valued at $48,503,000 after purchasing an additional 1,026,930 shares in the last quarter. Burney Co. lifted its holdings in Verizon Communications by 30.4% in the 4th quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock valued at $7,463,000 after purchasing an additional 43,472 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Verizon Communications by 2.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock valued at $92,445,000 after purchasing an additional 57,583 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VZ. Tigress Financial upped their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Citigroup upped their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Bank of America upped their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. UBS Group upped their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Finally, 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. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.54.

Verizon Communications Stock Down 0.2 %

Shares of NYSE:VZ opened at $38.95 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $45.36. The company has a 50 day moving average of $40.93 and a two-hundred day moving average of $41.64. The company has a market capitalization of $163.97 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The company had revenue of $33.30 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter last year, the company earned $1.22 earnings per share. Verizon Communications’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts forecast that Verizon Communications Inc. will post 4.59 earnings per share 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. Stockholders of record on Friday, January 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.96%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 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).