Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 2.9% in the fourth quarter, Holdings Channel reports. The firm owned 208,350 shares of the cell phone carrier’s stock after purchasing an additional 5,829 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Verizon Communications were worth $8,332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of VZ. Geneos Wealth Management Inc. grew its position in shares of Verizon Communications by 2.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 161,881 shares of the cell phone carrier’s stock valued at $6,474,000 after buying an additional 4,224 shares during the last quarter. apricus wealth LLC boosted its stake in Verizon Communications by 5.5% in the fourth quarter. apricus wealth LLC now owns 45,237 shares of the cell phone carrier’s stock valued at $1,809,000 after acquiring an additional 2,350 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Verizon Communications by 6.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 720,534 shares of the cell phone carrier’s stock valued at $28,814,000 after purchasing an additional 45,885 shares during the last quarter. CX Institutional raised its position in shares of Verizon Communications by 27.1% during the 4th quarter. CX Institutional now owns 39,762 shares of the cell phone carrier’s stock worth $1,590,000 after purchasing an additional 8,481 shares during the period. Finally, Impact Partnership Wealth LLC lifted its holdings in shares of Verizon Communications by 3.0% in the 4th quarter. Impact Partnership Wealth LLC now owns 26,994 shares of the cell phone carrier’s stock worth $1,079,000 after purchasing an additional 786 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Tigress Financial boosted their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Scotiabank boosted their price objective on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Finally, KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Verizon Communications presently has an average rating of “Hold” and a consensus target price of $46.29.

Verizon Communications Stock Performance

NYSE:VZ opened at $39.54 on Friday. The company has a 50-day moving average of $40.85 and a 200-day moving average of $41.61. The firm has a market cap of $166.43 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 3.27 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 twelve month low of $37.58 and a twelve month high of $45.36.

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

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date is Friday, January 10th. Verizon Communications’s payout ratio is 116.81%.

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).