Boyar Asset Management Inc. Decreases Holdings in Verizon Communications Inc. (NYSE:VZ)

Boyar Asset Management Inc. decreased its position in Verizon Communications Inc. (NYSE:VZ) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,286 shares of the cell phone carrier’s stock after selling 810 shares during the quarter. Boyar Asset Management Inc.’s holdings in Verizon Communications were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. LFA Lugano Financial Advisors SA increased its holdings in shares of Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 565 shares during the period. Criterion Capital Advisors LLC bought a new stake in Verizon Communications in the fourth quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in Verizon Communications in the fourth quarter valued at approximately $29,000. Morton Brown Family Wealth LLC boosted its stake in shares of Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after purchasing an additional 488 shares during the period. Finally, Cetera Trust Company N.A bought a new position in shares of Verizon Communications in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 1.6 %

NYSE:VZ opened at $39.77 on Thursday. The firm has a market capitalization of $167.40 billion, a P/E ratio of 14.84, a PEG ratio of 2.93 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The company’s 50-day simple moving average is $40.13 and its 200 day simple moving average is $39.84.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The company had revenue of $33 billion for 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 revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. As a group, analysts forecast that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.69%. Verizon Communications’s payout ratio is currently 99.25%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VZ shares. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Oppenheimer reiterated an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a report on Tuesday, April 23rd. Royal Bank of Canada boosted their price target on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, April 2nd. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Finally, Wells Fargo & Company reduced their target price on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.77.

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).