RDA Financial Network Has $1.05 Million Holdings in Verizon Communications Inc. (NYSE:VZ)

RDA Financial Network lifted its stake in Verizon Communications Inc. (NYSE:VZ) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,318 shares of the cell phone carrier’s stock after purchasing an additional 1,905 shares during the period. RDA Financial Network’s holdings in Verizon Communications were worth $1,052,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications in the 3rd quarter valued at $31,000. Accordant Advisory Group Inc boosted its holdings in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after acquiring an additional 450 shares during the last quarter. Legend Financial Advisors Inc. increased its position in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Verizon Communications during the 3rd quarter worth about $44,000. Finally, McClarren Financial Advisors Inc. lifted its position in Verizon Communications by 762.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock valued at $48,000 after purchasing an additional 938 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. KeyCorp downgraded shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Scotiabank upped their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Sanford C. Bernstein began coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research note on Wednesday. Finally, StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.54.

Verizon Communications Stock Up 0.4 %

Shares of VZ stock opened at $38.32 on Friday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The firm has a fifty day moving average of $41.11 and a 200-day moving average of $41.73. The company has a market capitalization of $161.32 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 3.17 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The firm had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 7.07%. The ex-dividend date is Friday, January 10th. Verizon Communications’s payout ratio is 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).