Revolve Wealth Partners LLC Has $273,000 Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Revolve Wealth Partners LLC lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 10.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,816 shares of the cell phone carrier’s stock after selling 822 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Verizon Communications were worth $273,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications in the third quarter worth $31,000. Legend Financial Advisors Inc. grew its position in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares during the last quarter. Accordant Advisory Group Inc increased its holdings in shares of Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 450 shares during the period. Cedar Mountain Advisors LLC raised its position in shares of Verizon Communications by 655.5% during the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Verizon Communications in the third quarter valued at about $44,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Down 0.5 %

Shares of NYSE VZ opened at $40.44 on Wednesday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The company has a market cap of $170.23 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The firm’s 50-day simple moving average is $40.82 and its 200 day simple moving average is $41.61.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, research analysts expect that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The firm 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 dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is 116.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VZ shares. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Royal Bank of Canada reduced their target price on Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Tigress Financial increased their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Finally, Wolfe Research increased their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.44.

Verizon Communications Profile

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).