Perigon Wealth Management LLC Has $6.38 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Perigon Wealth Management LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 166,360 shares of the cell phone carrier's stock after purchasing an additional 6,744 shares during the period. Perigon Wealth Management LLC's holdings in Verizon Communications were worth $6,378,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Fermata Advisors LLC lifted its holdings in Verizon Communications by 4.5% during the 3rd quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier's stock worth $253,000 after buying an additional 243 shares in the last quarter. Austin Private Wealth LLC lifted its stake in shares of Verizon Communications by 3.0% during the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier's stock valued at $379,000 after acquiring an additional 243 shares during the period. Cary Street Partners Asset Management LLC lifted its stake in shares of Verizon Communications by 3.4% during the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier's stock valued at $343,000 after acquiring an additional 249 shares during the period. Wynn Capital LLC increased its position in Verizon Communications by 4.4% in the third 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 period. Finally, Western Financial Corp CA increased its position in Verizon Communications by 1.5% in the third 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 period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Down 0.5 %

Shares of Verizon Communications stock traded down $0.20 on Tuesday, hitting $40.44. The company had a trading volume of 21,028,053 shares, compared to its average volume of 25,567,920. The stock has a 50-day moving average of $40.82 and a 200-day moving average of $41.61. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $45.36. The firm has a market capitalization of $170.23 billion, a P/E ratio of 17.43, a P/E/G ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. During the same quarter last year, the business earned $1.08 earnings per share. Research analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The company also recently announced 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. This represents a $2.71 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications's dividend payout ratio is presently 116.81%.

Analysts Set New Price Targets

VZ has been the topic of several recent research reports. UBS Group raised their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research note on Friday. Sanford C. Bernstein began coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They set a "market perform" rating and a $48.00 target price for the company. Scotiabank increased their price target on Verizon Communications from $47.00 to $47.50 and gave the company a "sector perform" rating in a research note on Monday. Finally, Wolfe Research lifted their price objective on Verizon Communications from $50.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.44.

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).