Revolve Wealth Partners LLC Sells 1,015 Shares of Verizon Communications Inc. (NYSE:VZ)

Revolve Wealth Partners LLC decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,808 shares of the cell phone carrier’s stock after selling 1,015 shares during the period. Revolve Wealth Partners LLC’s holdings in Verizon Communications were worth $286,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of VZ. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Verizon Communications by 50.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,876 shares of the cell phone carrier’s stock worth $1,357,000 after acquiring an additional 14,090 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Verizon Communications by 4.3% during the third quarter. Valley National Advisers Inc. now owns 22,877 shares of the cell phone carrier’s stock valued at $741,000 after buying an additional 943 shares during the last quarter. Trexquant Investment LP bought a new position in Verizon Communications during the third quarter valued at approximately $2,951,000. Samalin Investment Counsel LLC lifted its position in Verizon Communications by 96.5% during the third quarter. Samalin Investment Counsel LLC now owns 15,972 shares of the cell phone carrier’s stock valued at $518,000 after purchasing an additional 7,843 shares during the period. Finally, Private Advisory Group LLC lifted its position in Verizon Communications by 4.4% during the third quarter. Private Advisory Group LLC now owns 48,662 shares of the cell phone carrier’s stock valued at $1,577,000 after purchasing an additional 2,045 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Royal Bank of Canada increased their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 2nd. Tigress Financial increased their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a research report on Tuesday, April 23rd. Finally, Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their price target for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $44.77.

Verizon Communications Stock Performance

VZ opened at $40.83 on Friday. The stock has a market capitalization of $171.86 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.98 and a beta of 0.42. The company has a fifty day moving average of $40.04 and a 200 day moving average of $39.99. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.03. The company had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. Verizon Communications’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $1.20 earnings per share. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.51%. Verizon Communications’s payout ratio is 99.25%.

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).