Verizon Communications Inc. (NYSE:VZ) Shares Sold by Indie Asset Partners LLC
Indie Asset Partners LLC lessened its position in Verizon Communications Inc. (NYSE:VZ) by 8.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,206 shares of the cell phone carrier’s stock after selling 401 shares during the quarter. Indie Asset Partners LLC’s holdings in Verizon Communications were worth $247,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC boosted its position in shares of Verizon Communications by 5.6% in the third quarter. Harbor Investment Advisory LLC now owns 40,251 shares of the cell phone carrier’s stock valued at $2,395,000 after acquiring an additional 2,124 shares during the period. Boyd Watterson Asset Management LLC OH grew its position in shares of Verizon Communications by 38.5% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 19,819 shares of the cell phone carrier’s stock worth $1,179,000 after buying an additional 5,511 shares during the period. Bouchey Financial Group Ltd grew its position in shares of Verizon Communications by 20.8% in the 3rd quarter. Bouchey Financial Group Ltd now owns 6,668 shares of the cell phone carrier’s stock valued at $397,000 after purchasing an additional 1,146 shares during the period. Patriot Investment Management Inc. grew its position in shares of Verizon Communications by 3.6% in the 3rd quarter. Patriot Investment Management Inc. now owns 33,776 shares of the cell phone carrier’s stock valued at $2,009,000 after purchasing an additional 1,189 shares during the period. Finally, LFA Lugano Financial Advisors SA raised its stake in shares of Verizon Communications by 759.5% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 4,220 shares of the cell phone carrier’s stock worth $250,000 after purchasing an additional 3,729 shares in the last quarter. 64.85% of the stock is owned by hedge funds and other institutional investors.
Verizon Communications stock traded up $0.36 during trading hours on Tuesday, hitting $56.81. The stock had a trading volume of 769,118 shares, compared to its average volume of 20,626,359. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The stock has a market cap of $235.09 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 3.54 and a beta of 0.44. Verizon Communications Inc. has a one year low of $48.84 and a one year high of $61.95. The business’s 50 day simple moving average is $56.33 and its 200-day simple moving average is $58.66.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 1st. Stockholders of record on Friday, January 8th were given a dividend of $0.6275 per share. The ex-dividend date was Thursday, January 7th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.42%. Verizon Communications’s dividend payout ratio (DPR) is 52.18%.
A number of brokerages have commented on VZ. JPMorgan Chase & Co. raised Verizon Communications from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $61.00 to $65.00 in a report on Thursday, November 5th. Wells Fargo & Company initiated coverage on Verizon Communications in a report on Monday, November 16th. They set an “equal weight” rating and a $60.00 target price on the stock. Credit Suisse Group reduced their target price on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating and increased their target price for the stock from $59.00 to $66.00 in a report on Wednesday, December 2nd. Finally, Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a report on Sunday, November 1st. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.84.
About Verizon Communications
Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.
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