Y Intercept Hong Kong Ltd Decreases Stock Holdings in Verizon Communications Inc. $VZ

Y Intercept Hong Kong Ltd lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 61.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,174 shares of the cell phone carrier’s stock after selling 198,629 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Verizon Communications were worth $5,545,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Advantage Trust Co increased its position in Verizon Communications by 549.5% in the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 500 shares during the last quarter. TruNorth Capital Management LLC lifted its position in shares of Verizon Communications by 95.3% during the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after buying an additional 305 shares during the last quarter. RMG Wealth Management LLC bought a new stake in Verizon Communications in the 2nd quarter valued at about $30,000. Global Wealth Strategies & Associates boosted its position in Verizon Communications by 739.5% during the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock worth $30,000 after purchasing an additional 599 shares during the period. Finally, Global Trust Asset Management LLC raised its position in shares of Verizon Communications by 222.2% in the second quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 500 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.1%

Shares of NYSE:VZ opened at $39.53 on Friday. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $47.35. The firm has a fifty day moving average of $40.37 and a 200 day moving average of $41.62. The firm has a market capitalization of $166.68 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 3.77 and a beta of 0.34. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.69 and a current ratio of 0.74.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.02. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The firm had revenue of $33.82 billion during the quarter, compared to analyst estimates of $34.19 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, January 12th. This represents a $2.76 annualized dividend and a yield of 7.0%. Verizon Communications’s dividend payout ratio is currently 58.97%.

Wall Street Analyst Weigh In

VZ has been the topic of several recent research reports. Royal Bank Of Canada dropped their target price on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th. BNP Paribas Exane lowered Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a report on Tuesday, October 21st. Sanford C. Bernstein reduced their price objective on shares of Verizon Communications from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Friday, January 16th. JPMorgan Chase & Co. decreased their price target on shares of Verizon Communications from $49.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Verizon Communications in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $47.07.

Verizon Communications Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.