Verizon Communications Inc. (NYSE:VZ) Stake Lessened by Woodward Diversified Capital LLC

Woodward Diversified Capital LLC trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 17.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,193 shares of the cell phone carrier’s stock after selling 6,471 shares during the period. Verizon Communications makes up about 0.9% of Woodward Diversified Capital LLC’s portfolio, making the stock its 22nd largest holding. Woodward Diversified Capital LLC’s holdings in Verizon Communications were worth $1,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Capital Performance Advisors LLP bought a new stake in Verizon Communications during the third quarter worth approximately $31,000. Legend Financial Advisors Inc. boosted its stake 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. Accordant Advisory Group Inc grew its holdings in shares of Verizon Communications by 137.6% in 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 during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Verizon Communications during the fourth quarter valued at $38,000. Finally, Cedar Mountain Advisors LLC boosted its position in shares of Verizon Communications by 655.5% in the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after purchasing an additional 839 shares during the period. 62.06% of the stock is owned by institutional investors.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 11,085 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $453,154.80. Following the transaction, the chief executive officer now owns 14,590 shares in the company, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 39,085 shares of company stock worth $1,582,995. Company insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada cut their price objective on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. UBS Group raised their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Wolfe Research boosted their target price on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Sanford C. Bernstein initiated coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $46.08.

Verizon Communications Stock Down 0.2 %

VZ stock opened at $39.88 on Friday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The company has a fifty day simple moving average of $40.27 and a 200 day simple moving average of $41.52. 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 firm has a market cap of $167.86 billion, a PE ratio of 9.63, a PEG ratio of 4.11 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS 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 period last year, the company posted $1.08 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.80%. The ex-dividend date was Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

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).