Verizon Communications Inc. (NYSE:VZ) Shares Sold by NWI Management LP

NWI Management LP cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 66.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 50,000 shares of the cell phone carrier’s stock after selling 100,000 shares during the period. NWI Management LP’s holdings in Verizon Communications were worth $2,098,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. LFA Lugano Financial Advisors SA increased its holdings in Verizon Communications by 627.8% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 565 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC lifted its position in Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after acquiring an additional 488 shares in the last quarter. Finally, Vima LLC purchased a new position in Verizon Communications in the 4th quarter worth approximately $36,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

VZ stock traded up $0.14 during trading on Friday, hitting $40.09. 15,911,465 shares of the company’s stock traded hands, compared to its average volume of 18,588,142. The stock has a market capitalization of $168.75 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 3.65 and a beta of 0.41. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $43.42. The stock has a fifty day moving average price of $40.58 and a two-hundred day moving average price of $40.45. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.64%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VZ shares. Scotiabank boosted their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a research note on Tuesday, July 23rd. Wells Fargo & Company cut their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Finally, StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.68.

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).