Verizon Communications Inc. (NYSE:VZ) Stake Cut by Global Retirement Partners LLC

Global Retirement Partners LLC trimmed its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,101 shares of the cell phone carrier's stock after selling 8,742 shares during the period. Global Retirement Partners LLC's holdings in Verizon Communications were worth $4,883,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Plan Group Financial LLC boosted its stake in Verizon Communications by 14.7% in the 4th quarter. Plan Group Financial LLC now owns 26,992 shares of the cell phone carrier's stock worth $1,079,000 after buying an additional 3,454 shares during the last quarter. Atlas Legacy Advisors LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth about $206,000. Bank of Jackson Hole Trust acquired a new stake in shares of Verizon Communications in the fourth quarter worth approximately $306,000. Mcdonald Partners LLC grew its holdings in Verizon Communications by 4.6% in the fourth quarter. Mcdonald Partners LLC now owns 79,806 shares of the cell phone carrier's stock valued at $3,191,000 after purchasing an additional 3,526 shares during the period. Finally, Key Financial Inc boosted its holdings in shares of Verizon Communications by 12.1% in the 4th quarter. Key Financial Inc now owns 31,961 shares of the cell phone carrier's stock valued at $1,278,000 after purchasing an additional 3,451 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of NYSE VZ traded up $0.46 during midday trading on Friday, reaching $42.95. 13,871,466 shares of the company traded hands, compared to its average volume of 22,738,201. The company has a market cap of $180.82 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 4.40 and a beta of 0.45. The stock has a 50-day moving average price of $39.90 and a 200 day moving average price of $41.59. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the prior year, the company earned $1.08 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.6775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.31%. Verizon Communications's dividend payout ratio (DPR) is 65.46%.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares in the company, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 39,085 shares of company stock valued at $1,582,995 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on VZ shares. DZ Bank upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Wednesday, January 29th. Tigress Financial reissued a "buy" rating and set a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. Royal Bank of Canada lowered their price objective on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. 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 report on Friday, January 24th. Finally, UBS Group raised their price objective on Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, December 20th. Ten research 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. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and an average price target of $46.08.

About Verizon Communications

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).