Uncommon Cents Investing LLC Has $1.68 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Uncommon Cents Investing LLC reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,963 shares of the cell phone carrier’s stock after selling 1,508 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Verizon Communications were worth $1,678,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. True Link Financial Advisors LLC bought a new position in Verizon Communications in the 4th quarter valued at about $218,000. Strong Tower Advisory Services grew its position in shares of Verizon Communications by 9.3% in the fourth quarter. Strong Tower Advisory Services now owns 47,643 shares of the cell phone carrier’s stock valued at $1,905,000 after purchasing an additional 4,051 shares during the last quarter. Wealth Management Partners LLC increased its stake in shares of Verizon Communications by 10.8% during the fourth quarter. Wealth Management Partners LLC now owns 10,666 shares of the cell phone carrier’s stock worth $427,000 after purchasing an additional 1,040 shares during the period. M.E. Allison & CO. Inc. acquired a new stake in Verizon Communications during the 4th quarter worth approximately $434,000. Finally, Diversify Wealth Management LLC grew its holdings in Verizon Communications by 44.9% in the 4th quarter. Diversify Wealth Management LLC now owns 118,494 shares of the cell phone carrier’s stock valued at $4,480,000 after buying an additional 36,704 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Up 1.4 %

Shares of NYSE VZ opened at $38.86 on Monday. The company has a market cap of $163.58 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 3.17 and a beta of 0.46. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $45.36. The stock has a 50-day moving average price of $41.03 and a two-hundred day moving average price of $41.69.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The business had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the prior year, the company earned $1.22 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts forecast that Verizon Communications Inc. will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is 116.81%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Tigress Financial boosted their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. StockNews.com lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Raymond James lifted their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Sanford C. Bernstein assumed coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.54.

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).