J.W. Cole Advisors Inc. Sells 3,899 Shares of Verizon Communications Inc. (NYSE:VZ)

J.W. Cole Advisors Inc. lowered its position in Verizon Communications Inc. (NYSE:VZ) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,489 shares of the cell phone carrier’s stock after selling 3,899 shares during the period. J.W. Cole Advisors Inc.’s holdings in Verizon Communications were worth $8,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Verizon Communications in the third quarter valued at approximately $31,000. Accordant Advisory Group Inc lifted its stake in shares of Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after buying an additional 450 shares during the period. Legend Financial Advisors Inc. lifted its position in Verizon Communications by 69.6% during the fourth 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. Compass Financial Services Inc acquired a new position in Verizon Communications during the fourth quarter valued at $33,000. Finally, Hager Investment Management Services LLC acquired a new position in Verizon Communications during the fourth quarter valued at $38,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.1 %

Shares of NYSE VZ opened at $41.00 on Friday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The stock has a market cap of $172.59 billion, a PE ratio of 9.90, a P/E/G ratio of 4.17 and a beta of 0.45. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average of $39.94 and a 200 day moving average of $41.56.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the business earned $1.08 earnings per share. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.6775 dividend. The ex-dividend date was Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.61%. Verizon Communications’s payout ratio is 65.46%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the transaction, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. This represents a 43.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 39,085 shares of company stock worth $1,582,995 in the last ninety days. 0.02% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on VZ. Tigress Financial reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a report on Thursday, January 30th. KeyCorp cut shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Scotiabank lifted their price objective on shares of Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a report on Monday, January 27th. StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Finally, Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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).