FDx Advisors Inc. Sells 632 Shares of Verizon Communications Inc. (NYSE:VZ)

FDx Advisors Inc. lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,197 shares of the cell phone carrier’s stock after selling 632 shares during the period. FDx Advisors Inc.’s holdings in Verizon Communications were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in VZ. Capital Performance Advisors LLP bought a new stake in Verizon Communications in the 3rd quarter valued at about $31,000. Legend Financial Advisors Inc. boosted its stake in shares of Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 320 shares during the period. Compass Financial Services Inc bought a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $33,000. Hager Investment Management Services LLC acquired a new stake in Verizon Communications during the fourth quarter worth approximately $38,000. Finally, Cedar Mountain Advisors LLC increased its stake in Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after acquiring an additional 839 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of VZ opened at $42.77 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The stock has a market cap of $180.05 billion, a PE ratio of 10.33, a PEG ratio of 4.40 and a beta of 0.45. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The business has a 50-day simple moving average of $39.91 and a two-hundred day simple moving average of $41.61.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period last year, the company posted $1.08 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a dividend of $0.6775 per share. The ex-dividend date was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.34%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the transaction, the chief executive officer now directly owns 45,675 shares of the company’s stock, valued at $1,851,664.50. The trade was a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 39,085 shares of company stock worth $1,582,995. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VZ shares. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Scotiabank upped their price objective on shares of Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Argus raised shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Tigress Financial restated a “buy” rating and issued a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. Finally, UBS Group increased their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $46.08.

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).