Cairn Investment Group Inc. Reduces Position in Verizon Communications Inc. (NYSE:VZ)

Cairn Investment Group Inc. cut its position in Verizon Communications Inc. (NYSE:VZFree Report) by 5.2% during the fourth quarter, HoldingsChannel reports. The firm owned 41,689 shares of the cell phone carrier’s stock after selling 2,307 shares during the quarter. Cairn Investment Group Inc.’s holdings in Verizon Communications were worth $1,572,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VZ. LFA Lugano Financial Advisors SA increased its position in shares of Verizon Communications by 627.8% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 565 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $29,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Verizon Communications by 130.1% in the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after buying an additional 488 shares in the last quarter. Finally, Cetera Trust Company N.A acquired a new position in shares of Verizon Communications in the 4th quarter valued at $37,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on VZ shares. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and upped their target price for the company from $33.00 to $39.00 in a report on Friday, March 22nd. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Wells Fargo & Company lowered their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.77.

Check Out Our Latest Report on Verizon Communications

Verizon Communications Price Performance

VZ traded down $0.39 on Friday, reaching $40.94. The company had a trading volume of 10,410,163 shares, compared to its average volume of 15,627,389. The company has a fifty day moving average of $40.27 and a 200-day moving average of $39.78. The company has a market capitalization of $172.33 billion, a P/E ratio of 15.28, a PEG ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. Verizon Communications’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is presently 99.25%.

Verizon Communications Company Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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