Charles Schwab Trust Co Lowers Stock Position in Verizon Communications Inc. (NYSE:VZ)

Charles Schwab Trust Co decreased its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 13.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,823 shares of the cell phone carrier’s stock after selling 2,994 shares during the period. Charles Schwab Trust Co’s holdings in Verizon Communications were worth $710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in VZ. CGC Financial Services LLC purchased a new stake in shares of Verizon Communications in the 2nd quarter valued at $32,000. HBC Financial Services PLLC lifted its stake in shares of Verizon Communications by 320.0% in the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock valued at $34,000 after acquiring an additional 800 shares during the last quarter. RVW Wealth LLC purchased a new stake in Verizon Communications during the 3rd quarter valued at about $36,000. True Wealth Design LLC purchased a new position in Verizon Communications in the 4th quarter worth approximately $42,000. Finally, Worth Asset Management LLC purchased a new position in Verizon Communications in the 1st quarter worth approximately $58,000. Hedge funds and other institutional investors own 61.06% of the company’s stock.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the sale, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

VZ has been the subject of a number of analyst reports. StockNews.com lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Oppenheimer restated an “outperform” rating and set a $43.00 target price on shares of Verizon Communications in a report on Tuesday, December 19th. Barclays lifted their price target on shares of Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Tigress Financial lifted their target price on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Citigroup increased their price target on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Read Our Latest Stock Analysis on Verizon Communications

Verizon Communications Stock Down 0.7 %

Verizon Communications stock opened at $39.49 on Monday. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.21. The stock has a fifty day moving average of $40.32 and a 200 day moving average of $37.01. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. The stock has a market cap of $166.03 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 3.06 and a beta of 0.40.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The firm had revenue of $35.10 billion during the quarter, compared to analyst estimates of $34.60 billion. During the same period in the prior year, the business posted $1.19 EPS. Verizon Communications’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.6 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.74%. Verizon Communications’s payout ratio is 96.38%.

Verizon Communications Company 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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