Accurate Wealth Management LLC Trims Stock Position in Verizon Communications Inc. (NYSE:VZ)

Accurate Wealth Management LLC cut its position in Verizon Communications Inc. (NYSE:VZ) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,155 shares of the cell phone carrier’s stock after selling 1,096 shares during the quarter. Accurate Wealth Management LLC’s holdings in Verizon Communications were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of VZ. Charles Schwab Investment Management Inc. boosted its stake in Verizon Communications by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock valued at $4,548,163,000 after buying an additional 5,936,009 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Verizon Communications by 4,520.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,815,534 shares of the cell phone carrier’s stock valued at $216,266,000 after acquiring an additional 4,711,309 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Verizon Communications during the 3rd quarter valued at about $177,799,000. Janus Henderson Group PLC boosted its position in shares of Verizon Communications by 77.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,101,616 shares of the cell phone carrier’s stock valued at $274,052,000 after acquiring an additional 2,656,396 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Verizon Communications by 2.2% during the third quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock worth $4,289,054,000 after purchasing an additional 2,081,241 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Up 0.6 %

NYSE VZ opened at $38.33 on Wednesday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The stock has a market capitalization of $161.35 billion, a PE ratio of 16.52, a PEG ratio of 3.05 and a beta of 0.46. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. The business’s 50-day moving average is $41.17 and its 200 day moving average is $41.76.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.6775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a yield of 7.07%. Verizon Communications’s dividend payout ratio (DPR) is 116.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Raymond James raised their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Sanford C. Bernstein began 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 objective on the stock. Scotiabank upped their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Finally, Bank of America boosted their target price on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Verizon Communications has a consensus rating of “Hold” and an average target price of $46.54.

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).