NEXT Financial Group Inc cut its stake in Verizon Communications Inc. (NYSE:VZ) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,831 shares of the cell phone carrier’s stock after selling 13,598 shares during the period. Verizon Communications accounts for approximately 1.3% of NEXT Financial Group Inc’s investment portfolio, making the stock its 12th largest holding. NEXT Financial Group Inc’s holdings in Verizon Communications were worth $2,955,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Legacy Advisors LLC acquired a new position in shares of Verizon Communications during the third quarter valued at $132,000. Shine Investment Advisory Services Inc. increased its holdings in shares of Verizon Communications by 190.9% during the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after purchasing an additional 1,775 shares during the period. Private Vista LLC increased its holdings in shares of Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after purchasing an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications during the second quarter valued at $156,000. Finally, Regal Wealth Group Inc. increased its holdings in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares during the period. 64.37% of the stock is currently owned by hedge funds and other institutional investors.
Verizon Communications Inc. (NYSE:VZ) opened at $48.65 on Wednesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.77. The firm has a market capitalization of $198,470.00, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.99 and a beta of 0.67.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be given a $0.59 dividend. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.85%. Verizon Communications’s dividend payout ratio (DPR) is 72.62%.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the transaction, the senior vice president now owns 16,059 shares in the company, valued at approximately $799,738.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday. Guggenheim assumed coverage on Verizon Communications in a report on Tuesday. They set a “buy” rating and a $58.00 price target on the stock. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 target price on the stock. in a report on Tuesday, March 6th. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Macquarie reaffirmed a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $53.69.
About Verizon Communications
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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