Asset Management Advisors LLC Purchases 1,350 Shares of Verizon Communications Inc. (NYSE:VZ)

Asset Management Advisors LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,896 shares of the cell phone carrier’s stock after acquiring an additional 1,350 shares during the period. Verizon Communications accounts for 3.6% of Asset Management Advisors LLC’s portfolio, making the stock its 11th largest holding. Asset Management Advisors LLC’s holdings in Verizon Communications were worth $4,875,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Fermata Advisors LLC raised its stake in shares of Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock valued at $253,000 after acquiring an additional 243 shares during the last quarter. Austin Private Wealth LLC raised its position in Verizon Communications by 3.0% in the 3rd quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after purchasing an additional 243 shares during the last quarter. Cary Street Partners Asset Management LLC raised its position in Verizon Communications by 3.4% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after purchasing an additional 249 shares during the last quarter. Wynn Capital LLC raised its position in Verizon Communications by 4.4% in the 3rd quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier’s stock worth $267,000 after purchasing an additional 250 shares during the last quarter. Finally, Western Financial Corp CA raised its position in Verizon Communications by 1.5% in the 3rd quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier’s stock worth $786,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of VZ stock opened at $39.41 on Monday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The firm has a market capitalization of $165.88 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 4.11 and a beta of 0.45. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm has a fifty day moving average of $40.61 and a 200-day moving average of $41.57.

Verizon Communications (NYSE:VZ) last announced 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 net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the business posted $1.08 earnings per share. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business 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 $0.6775 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.88%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares of the company’s stock, valued at $1,851,664.50. The trade was a 30.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VZ. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. Tigress Financial reaffirmed a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a report on Thursday. Finally, Royal Bank of Canada lowered their target price on shares of Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $46.08.

Verizon Communications Company 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).