Verizon Communications Inc. (NYSE:VZ) Stock Holdings Reduced by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 300,929 shares of the cell phone carrier’s stock after selling 19,578 shares during the period. Verizon Communications comprises approximately 2.1% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 4th biggest holding. Gilman Hill Asset Management LLC’s holdings in Verizon Communications were worth $12,034,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Verizon Communications during the 3rd quarter valued at $31,000. Legend Financial Advisors Inc. raised its holdings in Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the period. Accordant Advisory Group Inc raised its holdings in Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after acquiring an additional 450 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Verizon Communications during the 3rd quarter valued at $44,000. Finally, IFS Advisors LLC raised its holdings in Verizon Communications by 244.1% during the 4th quarter. IFS Advisors LLC now owns 1,115 shares of the cell phone carrier’s stock valued at $45,000 after acquiring an additional 791 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

VZ stock opened at $38.86 on Monday. The firm has a 50 day moving average price of $41.03 and a 200-day moving average price of $41.69. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $45.36. The firm has a market capitalization of $163.58 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 3.17 and a beta of 0.46. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The company had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period in the previous year, the business earned $1.22 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts forecast that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of recent analyst reports. KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Bank of America increased their price objective on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Sanford C. Bernstein assumed coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective on the stock. Tigress Financial raised their price target on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Scotiabank raised their price target on Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $46.54.

Verizon Communications Company 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).