Wendell David Associates Inc. Sells 1,300 Shares of Verizon Communications Inc. (NYSE:VZ)

Wendell David Associates Inc. reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,433 shares of the cell phone carrier’s stock after selling 1,300 shares during the quarter. Wendell David Associates Inc.’s holdings in Verizon Communications were worth $2,467,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VZ. CGC Financial Services LLC bought a new position in shares of Verizon Communications during the 2nd quarter worth approximately $32,000. HBC Financial Services PLLC boosted its holdings 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 buying an additional 800 shares during the last quarter. RVW Wealth LLC acquired a new stake in shares of Verizon Communications in the 3rd quarter valued at approximately $36,000. Financial Management Professionals Inc. boosted its holdings in shares of Verizon Communications by 58.4% in the 4th quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock valued at $41,000 after buying an additional 404 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $42,000. 62.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $40.33, for a total value of $604,950.00. Following the transaction, the chief executive officer now owns 59,201 shares in the company, valued at $2,387,576.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is owned by company insiders.

Verizon Communications Stock Up 0.8 %

VZ opened at $42.28 on Tuesday. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.21. 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 company has a market capitalization of $177.76 billion, a P/E ratio of 15.32, a P/E/G ratio of 3.40 and a beta of 0.41. The stock has a fifty day moving average of $40.68 and a 200-day moving average of $37.48.

Verizon Communications (NYSE:VZGet Free Report) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The company had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s payout ratio is currently 96.38%.

Wall Street Analyst Weigh In

VZ has been the subject of several recent analyst reports. Raymond James increased their price objective on Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Daiwa Capital Markets raised Verizon Communications from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $47.00 in a report on Wednesday, January 24th. Oppenheimer reissued an “outperform” rating and issued a $43.00 price objective on shares of Verizon Communications in a report on Tuesday, December 19th. Royal Bank of Canada raised their price target on Verizon Communications from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Tuesday, February 20th. Finally, Wells Fargo & Company raised their price target on Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.86.

View Our Latest Research Report on VZ

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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