Verizon Communications Inc. (NYSE:VZ) Position Decreased by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,816 shares of the cell phone carrier’s stock after selling 822 shares during the period. Revolve Wealth Partners LLC’s holdings in Verizon Communications were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VZ. Capital Performance Advisors LLP acquired a new position in shares of Verizon Communications in the 3rd quarter worth $31,000. Legend Financial Advisors Inc. increased its stake in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares in the last quarter. Accordant Advisory Group Inc raised its holdings in Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after buying an additional 450 shares during the period. Cedar Mountain Advisors LLC lifted its stake in Verizon Communications by 655.5% during the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Verizon Communications in the third quarter worth about $44,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.5 %

Shares of NYSE:VZ opened at $40.44 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $170.23 billion, a PE ratio of 17.43, a P/E/G ratio of 3.27 and a beta of 0.46. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The firm has a fifty day moving average price of $40.82 and a 200 day moving average price of $41.61.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. During the same period in the prior year, the company posted $1.08 EPS. Analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio is 116.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. KeyCorp downgraded shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Scotiabank increased their target price on Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a report on Monday. UBS Group lifted their price target on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Sanford C. Bernstein started coverage on Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. Finally, StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.44.

Verizon Communications 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).