Verizon Communications Inc. (NYSE:VZ) Shares Sold by MWA Asset Management

MWA Asset Management decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.9% in the 4th quarter, Holdings Channel reports. The firm owned 41,749 shares of the cell phone carrier’s stock after selling 3,075 shares during the period. Verizon Communications accounts for about 1.1% of MWA Asset Management’s investment portfolio, making the stock its 28th biggest holding. MWA Asset Management’s holdings in Verizon Communications were worth $1,670,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications in the third quarter valued at about $31,000. Legend Financial Advisors Inc. grew its holdings in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 320 shares during the last quarter. Accordant Advisory Group Inc increased its position in Verizon Communications by 137.6% in 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. Hager Investment Management Services LLC purchased a new stake in Verizon Communications during the 4th quarter valued at approximately $38,000. Finally, Cedar Mountain Advisors LLC lifted its position in Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after acquiring an additional 839 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the sale, the chief executive officer now owns 14,590 shares in the company, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 39,085 shares of company stock worth $1,582,995 in the last ninety days. Insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

VZ has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada lowered their target price on shares of Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Scotiabank lifted their price objective on Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a report on Monday, January 27th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Stock Down 0.2 %

VZ opened at $39.88 on Friday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36. The company has a market cap of $167.86 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 4.11 and a beta of 0.45. The business’s fifty day moving average is $40.27 and its two-hundred day moving average is $41.52. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the business earned $1.08 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a dividend of $0.6775 per share. The ex-dividend date was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.80%. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

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).