MWA Asset Management Reduces Stock Position in Verizon Communications Inc. (NYSE:VZ)

MWA Asset Management decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,749 shares of the cell phone carrier’s stock after selling 3,075 shares during the quarter. Verizon Communications comprises 1.1% of MWA Asset Management’s holdings, making the stock its 28th largest position. MWA Asset Management’s holdings in Verizon Communications were worth $1,670,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Verizon Communications in the third quarter worth approximately $31,000. Legend Financial Advisors Inc. grew its holdings in shares of Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares during the period. Accordant Advisory Group Inc increased its position in shares of Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 450 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in Verizon Communications in the 4th quarter valued at about $38,000. Finally, Cedar Mountain Advisors LLC lifted its position in Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.2 %

NYSE VZ opened at $39.88 on Friday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36. The firm has a 50 day moving average of $40.27 and a two-hundred day moving average of $41.52. 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 stock has a market capitalization of $167.86 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 4.11 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last issued its 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 last year, the company posted $1.08 EPS. As a group, research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.80%. The ex-dividend date was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 39,085 shares of company stock worth $1,582,995 over the last 90 days. 0.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VZ shares. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target for the company. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft upped their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Scotiabank lifted their price objective on Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Finally, UBS Group increased their target price 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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).