Mountain Capital Investment Advisors Inc Trims Stock Position in Verizon Communications Inc. (NYSE:VZ)

Mountain Capital Investment Advisors Inc lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,970 shares of the cell phone carrier’s stock after selling 1,674 shares during the quarter. Mountain Capital Investment Advisors Inc’s holdings in Verizon Communications were worth $1,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VZ. Voloridge Investment Management LLC increased its position in shares of Verizon Communications by 62.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 4,321,993 shares of the cell phone carrier’s stock valued at $257,115,000 after purchasing an additional 1,660,510 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of Verizon Communications by 74.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 2,664,250 shares of the cell phone carrier’s stock valued at $158,497,000 after purchasing an additional 1,137,848 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Verizon Communications by 19.2% during the 2nd quarter. Two Sigma Advisers LP now owns 6,169,963 shares of the cell phone carrier’s stock valued at $340,150,000 after purchasing an additional 994,400 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Verizon Communications by 17.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,512,741 shares of the cell phone carrier’s stock valued at $387,442,000 after purchasing an additional 979,394 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in Verizon Communications by 5.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 18,225,458 shares of the cell phone carrier’s stock worth $1,084,232,000 after acquiring an additional 937,809 shares in the last quarter. 64.85% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently issued reports on VZ. BidaskClub lowered shares of Verizon Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 30th. Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a report on Sunday, November 1st. Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their target price for the stock from $59.00 to $66.00 in a report on Wednesday, December 2nd. Wells Fargo & Company began coverage on shares of Verizon Communications in a report on Monday, November 16th. They issued an “equal weight” rating and a $60.00 target price for the company. Finally, Wolfe Research began coverage on shares of Verizon Communications in a report on Monday, October 19th. They issued a “peer perform” rating and a $62.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $62.00.

In related news, EVP Craig L. Silliman sold 10,411 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $57.73, for a total value of $601,027.03. Following the completion of the sale, the executive vice president now directly owns 23,771 shares in the company, valued at $1,372,299.83. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

NYSE VZ opened at $57.06 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market capitalization of $236.12 billion, a P/E ratio of 12.38, a P/E/G ratio of 3.54 and a beta of 0.44. Verizon Communications Inc. has a one year low of $48.84 and a one year high of $61.95. The stock has a 50 day moving average price of $59.67 and a 200-day moving average price of $58.65.

Verizon Communications (NYSE:VZ) last posted its earnings results on Wednesday, October 21st. The cell phone carrier reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.03. The firm had revenue of $31.50 billion during the quarter, compared to the consensus estimate of $31.60 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. As a group, equities analysts predict that Verizon Communications Inc. will post 4.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Friday, January 8th will be given a dividend of $0.6275 per share. The ex-dividend date is Thursday, January 7th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.40%. Verizon Communications’s dividend payout ratio is currently 52.18%.

Verizon Communications Profile

Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

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

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