Bank of New Hampshire Sells 7,297 Shares of Verizon Communications Inc. (NYSE:VZ)

Bank of New Hampshire cut its position in Verizon Communications Inc. (NYSE:VZFree Report) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,500 shares of the cell phone carrier’s stock after selling 7,297 shares during the quarter. Bank of New Hampshire’s holdings in Verizon Communications were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in VZ. Kestra Investment Management LLC bought a new stake in shares of Verizon Communications during the 3rd quarter valued at $3,376,000. Cyndeo Wealth Partners LLC grew its position in Verizon Communications by 9.7% during the third quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock worth $9,095,000 after buying an additional 17,855 shares in the last quarter. Benjamin Edwards Inc. grew its position in Verizon Communications by 1,934.5% during the third quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock worth $48,503,000 after buying an additional 1,026,930 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Verizon Communications by 2.9% during the third quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock worth $92,445,000 after buying an additional 57,583 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Verizon Communications by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after buying an additional 5,936,009 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Up 0.3 %

Shares of NYSE:VZ traded up $0.12 during trading on Tuesday, hitting $39.73. The stock had a trading volume of 2,506,076 shares, compared to its average volume of 16,592,207. Verizon Communications Inc. has a 12 month low of $37.56 and a 12 month high of $45.36. The company has a market capitalization of $167.25 billion, a PE ratio of 17.13, a PEG ratio of 3.05 and a beta of 0.46. The firm’s fifty day moving average is $41.51 and its 200 day moving average is $41.86. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The business’s revenue was up .9% compared to the same quarter last year. Analysts anticipate that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.6775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.82%. Verizon Communications’s payout ratio is currently 116.81%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Raymond James upped their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Bank of America upped their price objective on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their target price on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Monday, September 23rd. Finally, UBS Group boosted their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.54.

Get Our Latest Stock Report on VZ

Verizon Communications Profile

(Free Report)

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).

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

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