Hantz Financial Services Inc. Trims Holdings in Verizon Communications Inc. (NYSE:VZ)

Hantz Financial Services Inc. lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,841 shares of the cell phone carrier’s stock after selling 5,564 shares during the period. Hantz Financial Services Inc.’s holdings in Verizon Communications were worth $7,352,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Verizon Communications in the 3rd quarter worth about $31,000. Accordant Advisory Group Inc grew its stake in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 450 shares in the last quarter. Legend Financial Advisors Inc. increased its holdings 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 valued at $31,000 after buying an additional 320 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Verizon Communications by 655.5% during the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Verizon Communications during the 3rd quarter worth approximately $44,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Down 0.4 %

Verizon Communications stock opened at $40.25 on Thursday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36. The stock has a market cap of $169.43 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 3.27 and a beta of 0.46. The company’s 50-day moving average price is $40.79 and its two-hundred day moving average price is $41.61. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last announced its 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 in the prior year, the firm posted $1.08 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.6775 per share. The ex-dividend date is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.73%. Verizon Communications’s dividend payout ratio is currently 116.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VZ shares. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Finally, TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the transaction, the chief executive officer now owns 45,675 shares in the company, valued at approximately $1,851,664.50. The trade was a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.02% of the stock is owned by corporate insiders.

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).