Verizon Communications Inc. (NYSE:VZ) Stake Trimmed by Slocum Gordon & Co LLP

Slocum Gordon & Co LLP lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,835 shares of the cell phone carrier’s stock after selling 7,694 shares during the period. Verizon Communications comprises approximately 4.3% of Slocum Gordon & Co LLP’s investment portfolio, making the stock its 9th biggest position. Slocum Gordon & Co LLP’s holdings in Verizon Communications were worth $5,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of VZ. Fermata Advisors LLC increased its stake in Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock worth $253,000 after purchasing an additional 243 shares during the period. Austin Private Wealth LLC grew its holdings in shares of Verizon Communications by 3.0% in the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after purchasing an additional 243 shares during the last quarter. Cary Street Partners Asset Management LLC increased its stake in Verizon Communications by 3.4% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after buying an additional 249 shares during the period. Wynn Capital LLC lifted its holdings in Verizon Communications by 4.4% during the 3rd quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier’s stock valued at $267,000 after buying an additional 250 shares in the last quarter. Finally, Western Financial Corp CA boosted its position in Verizon Communications by 1.5% in the 3rd quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier’s stock valued at $786,000 after buying an additional 250 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

NYSE VZ opened at $39.95 on Friday. The firm’s fifty day simple moving average is $40.27 and its two-hundred day simple moving average is $41.52. The firm has a market capitalization of $168.16 billion, a P/E ratio of 9.65, a P/E/G ratio of 4.11 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. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36.

Verizon Communications (NYSE:VZ) last announced 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 return on equity of 19.80% and a net margin of 12.99%. During the same period in the previous year, the company earned $1.08 EPS. Analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VZ. Tigress Financial reaffirmed a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft increased their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Wolfe Research lifted their price objective on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Scotiabank upped their price objective on shares of Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 8,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at $262,809.20. This represents a 54.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 39,085 shares of company stock worth $1,582,995 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Verizon Communications Company 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).