Verizon Communications Inc. (NYSE:VZ) Position Increased by RFP Financial Group LLC

RFP Financial Group LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,426 shares of the cell phone carrier’s stock after purchasing an additional 321 shares during the quarter. RFP Financial Group LLC’s holdings in Verizon Communications were worth $217,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Benedict Financial Advisors Inc. lifted its stake in Verizon Communications by 1.0% in the fourth quarter. Benedict Financial Advisors Inc. now owns 170,596 shares of the cell phone carrier’s stock valued at $6,822,000 after acquiring an additional 1,660 shares during the last quarter. Richard C. Young & CO. LTD. raised its holdings in shares of Verizon Communications by 2.3% during the 4th quarter. Richard C. Young & CO. LTD. now owns 363,598 shares of the cell phone carrier’s stock valued at $14,540,000 after purchasing an additional 8,251 shares in the last quarter. AlphaStar Capital Management LLC lifted its stake in shares of Verizon Communications by 23.1% in the 4th quarter. AlphaStar Capital Management LLC now owns 31,093 shares of the cell phone carrier’s stock valued at $1,243,000 after purchasing an additional 5,829 shares during the last quarter. Stoneridge Investment Partners LLC boosted its holdings in Verizon Communications by 25.2% in the fourth quarter. Stoneridge Investment Partners LLC now owns 67,103 shares of the cell phone carrier’s stock worth $2,683,000 after purchasing an additional 13,500 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in Verizon Communications by 149.6% during the fourth quarter. WCM Investment Management LLC now owns 125,099 shares of the cell phone carrier’s stock worth $4,954,000 after buying an additional 74,974 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 39,085 shares of company stock worth $1,582,995. Insiders own 0.02% of the company’s stock.

Verizon Communications Price Performance

Verizon Communications stock opened at $39.88 on Friday. The business has a 50 day simple moving average of $40.18 and a 200 day simple moving average of $41.53. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36. The company has a market capitalization of $167.86 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 4.17 and a beta of 0.45. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (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 in the prior year, the firm earned $1.08 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

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

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of analyst reports. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, January 29th. 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 report on Monday, January 27th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. Sanford C. Bernstein began coverage on Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective on the stock. Finally, Tigress Financial restated a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. 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 stock. According to MarketBeat, Verizon Communications currently has a consensus 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).