Tradewinds LLC. Takes Position in Verizon Communications Inc. $VZ

Tradewinds LLC. purchased a new stake in Verizon Communications Inc. (NYSE:VZ) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 19,488 shares of the cell phone carrier’s stock, valued at approximately $857,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Advantage Trust Co grew its holdings in Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 500 shares during the period. TruNorth Capital Management LLC grew its stake in shares of Verizon Communications by 95.3% during the third quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after purchasing an additional 305 shares during the period. RMG Wealth Management LLC acquired a new stake in shares of Verizon Communications during the second quarter worth $30,000. Global Wealth Strategies & Associates increased its holdings in Verizon Communications by 739.5% in the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after purchasing an additional 599 shares during the last quarter. Finally, Global Trust Asset Management LLC lifted its stake in Verizon Communications by 222.2% in the second quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 500 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Down 1.0%

Shares of NYSE:VZ opened at $38.95 on Monday. The firm has a market cap of $164.23 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 3.71 and a beta of 0.34. Verizon Communications Inc. has a 12 month low of $38.35 and a 12 month high of $47.35. The company’s fifty day simple moving average is $40.52 and its 200 day simple moving average is $41.75. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last released its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The firm had revenue of $33.82 billion during the quarter, compared to analysts’ expectations of $34.19 billion. During the same quarter in the prior year, the company earned $1.19 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Monday, January 12th. Verizon Communications’s dividend payout ratio (DPR) is currently 58.97%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of recent analyst reports. Scotiabank upped their price target on Verizon Communications from $50.50 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lowered their target price on shares of Verizon Communications from $49.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Royal Bank Of Canada reduced their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th. BNP Paribas Exane cut shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Tuesday, October 21st. Finally, TD Cowen dropped their price objective on Verizon Communications from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.25.

Verizon Communications Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.