Verizon Communications Inc. (NYSE:VZ) Shares Sold by Vista Investment Partners LLC

Vista Investment Partners LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,879 shares of the cell phone carrier’s stock after selling 1,834 shares during the quarter. Verizon Communications accounts for approximately 1.3% of Vista Investment Partners LLC’s investment portfolio, making the stock its 26th largest holding. Vista Investment Partners LLC’s holdings in Verizon Communications were worth $4,274,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mackenzie Financial Corp grew its stake in shares of Verizon Communications by 9.9% during the 2nd quarter. Mackenzie Financial Corp now owns 1,032,269 shares of the cell phone carrier’s stock worth $42,571,000 after purchasing an additional 92,590 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Verizon Communications by 44.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 6,946 shares of the cell phone carrier’s stock worth $286,000 after purchasing an additional 2,149 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its position in Verizon Communications by 59.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 3,158 shares of the cell phone carrier’s stock worth $130,000 after purchasing an additional 1,181 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its holdings in Verizon Communications by 15.4% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 32,166 shares of the cell phone carrier’s stock valued at $1,327,000 after purchasing an additional 4,291 shares during the period. Finally, Kathmere Capital Management LLC increased its position in shares of Verizon Communications by 4.4% in the second quarter. Kathmere Capital Management LLC now owns 56,887 shares of the cell phone carrier’s stock valued at $2,346,000 after buying an additional 2,393 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Verizon Communications stock opened at $39.54 on Friday. 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 cap of $166.43 billion, a P/E ratio of 17.04, a PEG ratio of 3.27 and a beta of 0.46. The company has a 50-day moving average price of $40.85 and a 200 day moving average price of $41.61. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36.

Verizon Communications (NYSE:VZ) last released its quarterly 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 in the previous year, the business posted $1.08 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.6775 per share. 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%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Finally, Wolfe Research raised their target price on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday. Eleven investment 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 stock. Based on data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Hold” and an average price target of $46.29.

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).