Baldwin Wealth Partners LLC MA Has $311,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

Baldwin Wealth Partners LLC MA lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 28.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,774 shares of the cell phone carrier’s stock after selling 3,104 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Verizon Communications were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of Verizon Communications by 6.2% in 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 purchasing an additional 5,936,009 shares during the period. International Assets Investment Management LLC grew its stake in 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 buying an additional 4,711,309 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Verizon Communications in the 3rd quarter worth $177,799,000. Assenagon Asset Management S.A. raised its holdings in Verizon Communications by 184.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,428,540 shares of the cell phone carrier’s stock worth $217,087,000 after acquiring an additional 3,519,258 shares during the period. Finally, Janus Henderson Group PLC lifted its position in 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 worth $274,052,000 after acquiring an additional 2,656,396 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Verizon Communications stock opened at $40.64 on Tuesday. The firm has a market capitalization of $171.08 billion, a P/E ratio of 17.52, a P/E/G ratio of 3.27 and a beta of 0.46. The stock has a fifty day moving average price of $40.85 and a two-hundred day moving average price of $41.62. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $45.36. 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 (NYSE:VZ) last announced its 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 return on equity of 20.05% and a net margin of 7.30%. During the same quarter last year, the firm posted $1.08 EPS. As a group, analysts anticipate that Verizon Communications Inc. will post 4.59 EPS 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 issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.67%. The ex-dividend date is Friday, January 10th. Verizon Communications’s payout ratio is currently 116.81%.

Analysts Set New Price Targets

A number of research firms have recently commented on VZ. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note 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 report on Friday. KeyCorp downgraded shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Wolfe Research upped their target price on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Sanford C. Bernstein started coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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).