Verizon Communications Inc. $VZ Position Lessened by Orca Investment Management LLC

Orca Investment Management LLC reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 52.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,889 shares of the cell phone carrier’s stock after selling 23,169 shares during the quarter. Orca Investment Management LLC’s holdings in Verizon Communications were worth $918,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VZ. Register Financial Advisors LLC grew its stake in Verizon Communications by 12.2% in the 3rd quarter. Register Financial Advisors LLC now owns 12,243 shares of the cell phone carrier’s stock valued at $538,000 after buying an additional 1,327 shares during the last quarter. Stock Yards Bank & Trust Co. grew its position in shares of Verizon Communications by 7.2% in the third quarter. Stock Yards Bank & Trust Co. now owns 94,197 shares of the cell phone carrier’s stock valued at $4,140,000 after purchasing an additional 6,361 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Verizon Communications by 9.9% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 15,790 shares of the cell phone carrier’s stock valued at $694,000 after buying an additional 1,422 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in Verizon Communications during the third quarter worth about $159,000. Finally, Samalin Investment Counsel LLC raised its holdings in shares of Verizon Communications by 5.8% in the 3rd quarter. Samalin Investment Counsel LLC now owns 7,800 shares of the cell phone carrier’s stock worth $343,000 after buying an additional 429 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.4%

Shares of NYSE:VZ opened at $39.24 on Thursday. The firm has a market cap of $165.47 billion, a P/E ratio of 8.39, a P/E/G ratio of 3.73 and a beta of 0.34. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $47.35. The business has a fifty day simple moving average of $40.44 and a 200 day simple moving average of $41.67. 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 posted its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.02. The business had revenue of $33.82 billion during the quarter, compared to the consensus estimate of $34.19 billion. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. Verizon Communications’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. Analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $2.76 dividend on an annualized basis and a yield of 7.0%. Verizon Communications’s dividend payout ratio is 58.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VZ shares. 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. Royal Bank Of Canada cut their price objective on shares of Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Scotiabank boosted 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. Finally, TD Cowen lowered their price target on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.