Global Retirement Partners LLC Lowers Holdings in Verizon Communications Inc. (NYSE:VZ)

Global Retirement Partners LLC cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,101 shares of the cell phone carrier’s stock after selling 8,742 shares during the period. Global Retirement Partners LLC’s holdings in Verizon Communications were worth $4,883,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VZ. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications during the 3rd quarter worth approximately $31,000. Accordant Advisory Group Inc raised its holdings in shares of Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 450 shares in the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 320 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Verizon Communications during the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Verizon Communications during the 4th quarter worth approximately $38,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

VZ opened at $42.04 on Thursday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. 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 business’s fifty day simple moving average is $39.89 and its 200-day simple moving average is $41.58. The company has a market capitalization of $176.95 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 4.28 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last posted 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 return on equity of 19.80% and a net margin of 12.99%. During the same period in the prior year, the company posted $1.08 EPS. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Friday, January 10th. Verizon Communications’s payout ratio is currently 65.46%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VZ shares. Royal Bank of Canada decreased their price target on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Tigress Financial restated a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft increased their price target on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. Sanford C. Bernstein started coverage on Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Finally, DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, January 29th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average price target of $46.08.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the sale, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $262,809.20. This trade represents a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 39,085 shares of company stock valued at $1,582,995 over the last quarter. 0.02% of the stock is owned by corporate insiders.

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).