RFG Advisory LLC Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)

RFG Advisory LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 96,544 shares of the cell phone carrier’s stock after acquiring an additional 3,846 shares during the period. RFG Advisory LLC’s holdings in Verizon Communications were worth $3,861,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Verizon Communications in the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. lifted its stake in Verizon Communications by 69.6% in the fourth 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. Accordant Advisory Group Inc grew its position in 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 acquiring an additional 450 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Verizon Communications in the 3rd quarter worth approximately $44,000. Finally, IFS Advisors LLC raised its stake in shares of Verizon Communications by 244.1% during the fourth quarter. IFS Advisors LLC now owns 1,115 shares of the cell phone carrier’s stock valued at $45,000 after acquiring an additional 791 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Trading Up 0.6 %

Shares of VZ opened at $39.17 on Friday. The firm has a market cap of $164.89 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 3.27 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. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The company has a 50 day simple moving average of $40.93 and a two-hundred day simple moving average of $41.64.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same quarter in the prior year, the company earned $1.08 earnings per share. On average, equities analysts expect that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s dividend payout ratio is 116.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. UBS Group upped their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Scotiabank lifted their target price on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Finally, Sanford C. Bernstein started coverage on 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. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.54.

Verizon Communications Company 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).