Manchester Capital Management LLC Has $649,000 Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Manchester Capital Management LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,233 shares of the cell phone carrier’s stock after purchasing an additional 554 shares during the quarter. Manchester Capital Management LLC’s holdings in Verizon Communications were worth $649,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Austin Private Wealth LLC grew its stake in 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 in the last quarter. Cary Street Partners Asset Management LLC boosted its position in Verizon Communications by 3.4% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after acquiring an additional 249 shares in the last quarter. Western Financial Corp CA lifted its holdings in shares of Verizon Communications by 1.5% during the 3rd quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier’s stock valued at $786,000 after purchasing an additional 250 shares during the last quarter. First Personal Financial Services lifted its holdings in shares of Verizon Communications by 0.3% during the 3rd quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock valued at $4,091,000 after purchasing an additional 250 shares during the last quarter. Finally, Encompass Wealth Advisors LLC lifted its holdings in shares of Verizon Communications by 2.0% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock valued at $562,000 after purchasing an additional 250 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

NYSE:VZ opened at $41.00 on Friday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $172.59 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 4.17 and a beta of 0.45. The stock’s 50-day moving average price is $39.96 and its 200-day moving average price is $41.55.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 firm earned $1.08 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 dividend yield of 6.61%. The ex-dividend date of this dividend was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insider Activity

In related news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the sale, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 39,085 shares of company stock worth $1,582,995 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the subject of several analyst reports. Argus upgraded Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Tigress Financial reiterated a “buy” rating and set a $55.00 price objective on shares of Verizon Communications in a report on Thursday, January 30th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Royal Bank of Canada reduced their target price on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Finally, Scotiabank raised their target price on 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.08.

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).