Walter & Keenan Wealth Management LLC IN ADV Has $1.19 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Walter & Keenan Wealth Management LLC IN ADV reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,828 shares of the cell phone carrier’s stock after selling 3,938 shares during the period. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Verizon Communications were worth $1,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications in the third quarter valued at about $31,000. Legend Financial Advisors Inc. increased its position 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 last quarter. Compass Financial Services Inc bought a new stake in shares of Verizon Communications during the 4th quarter worth approximately $33,000. Accordant Advisory Group Inc boosted its holdings in shares of Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the last quarter. Finally, Hager Investment Management Services LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at $38,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Down 0.2 %

Shares of VZ opened at $39.88 on Monday. The firm has a 50 day simple moving average of $40.18 and a two-hundred day simple moving average of $41.55. The company has a market cap of $167.86 billion, a P/E ratio of 9.63, a P/E/G ratio of 4.17 and a beta of 0.45. Verizon Communications Inc. has a one year low of $37.58 and a one year 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) last issued its 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 return on equity of 19.80% and a net margin of 12.99%. During the same period last year, the company posted $1.08 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued 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 of this dividend was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Insider Activity

In other news, CEO Kyle Malady sold 11,085 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the transaction, the chief executive officer now owns 14,590 shares in the company, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 39,085 shares of company stock valued at $1,582,995 over the last quarter. 0.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Scotiabank boosted their price target on Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Tigress Financial reiterated a “buy” rating and set a $55.00 price objective on shares of Verizon Communications in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.08.

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).