AM Investment Strategies LLC Cuts Stake in Verizon Communications Inc. (NYSE:VZ)

AM Investment Strategies LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 6.0% during the 4th quarter, Holdings Channel reports. The fund owned 30,097 shares of the cell phone carrier’s stock after selling 1,913 shares during the quarter. AM Investment Strategies LLC’s holdings in Verizon Communications were worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Verizon Communications during the third quarter worth about $31,000. Accordant Advisory Group Inc boosted its stake 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 acquiring an additional 450 shares in the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 320 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Verizon Communications in the 3rd quarter valued at approximately $44,000. Finally, McClarren Financial Advisors Inc. raised its holdings in Verizon Communications by 762.6% during the third quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock worth $48,000 after purchasing an additional 938 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Up 0.9 %

Shares of VZ opened at $39.54 on Friday. The firm has a market cap of $166.43 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The company’s fifty day moving average is $40.89 and its two-hundred day moving average is $41.63. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $45.36.

Verizon Communications (NYSE:VZ) last announced its quarterly 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 20.05% and a net margin of 7.30%. During the same period last year, the business earned $1.08 EPS. Analysts forecast that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.6775 per share. 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 6.85%. Verizon Communications’s dividend payout ratio (DPR) is 116.81%.

Analysts Set New Price Targets

VZ has been the topic of several research reports. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Royal Bank of Canada reduced their price target on shares of Verizon Communications from $46.00 to $42.00 in a report on Friday. Wolfe Research increased their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday. 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 target for the company. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.29.

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).