High Net Worth Advisory Group LLC Trims Stake in Verizon Communications Inc. (NYSE:VZ)

High Net Worth Advisory Group LLC lowered its position in Verizon Communications Inc. (NYSE:VZ) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,496 shares of the cell phone carrier’s stock after selling 1,656 shares during the period. High Net Worth Advisory Group LLC’s holdings in Verizon Communications were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Novare Capital Management LLC lifted its holdings in Verizon Communications by 1.9% during the 4th quarter. Novare Capital Management LLC now owns 440,088 shares of the cell phone carrier’s stock valued at $17,599,000 after buying an additional 8,292 shares in the last quarter. Crescent Grove Advisors LLC raised its stake in shares of Verizon Communications by 22.6% during the fourth quarter. Crescent Grove Advisors LLC now owns 45,983 shares of the cell phone carrier’s stock valued at $1,839,000 after acquiring an additional 8,466 shares in the last quarter. Marshall Financial Group LLC boosted its holdings in shares of Verizon Communications by 1.2% in the fourth quarter. Marshall Financial Group LLC now owns 72,022 shares of the cell phone carrier’s stock valued at $2,880,000 after purchasing an additional 868 shares during the period. Smith Chas P & Associates PA Cpas grew its stake in Verizon Communications by 7.1% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 23,486 shares of the cell phone carrier’s stock worth $939,000 after purchasing an additional 1,564 shares in the last quarter. Finally, Patton Albertson Miller Group LLC increased its holdings in Verizon Communications by 5.9% during the 4th quarter. Patton Albertson Miller Group LLC now owns 124,716 shares of the cell phone carrier’s stock worth $4,987,000 after purchasing an additional 6,945 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of VZ stock opened at $39.54 on Monday. The business has a fifty day moving average of $40.85 and a 200 day moving average of $41.62. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 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 capitalization of $166.43 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last announced 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 return on equity of 20.05% and a net margin of 7.30%. During the same period in the previous year, the firm earned $1.08 earnings per share. As a group, research analysts expect that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid 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 payout ratio is currently 116.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday. UBS Group increased their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Royal Bank of Canada lowered their price target on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Wolfe Research upped their target price on Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $46.43.

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).