Verizon Communications Inc. (NYSE:VZ) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 134,189 shares of the cell phone carrier’s stock after selling 1,894 shares during the quarter. Wealthspire Advisors LLC’s holdings in Verizon Communications were worth $5,366,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Austin Private Wealth LLC boosted its position in Verizon Communications by 3.0% during the 3rd quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after acquiring an additional 243 shares during the period. Cary Street Partners Asset Management LLC lifted its holdings in shares of Verizon Communications by 3.4% in the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after buying an additional 249 shares during the period. First Personal Financial Services lifted its holdings in shares of Verizon Communications by 0.3% in the third quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock valued at $4,091,000 after buying an additional 250 shares during the period. Encompass Wealth Advisors LLC lifted its holdings in shares of Verizon Communications by 2.0% in the third quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock valued at $562,000 after buying an additional 250 shares during the period. Finally, First Dallas Securities Inc. lifted its holdings in shares of Verizon Communications by 0.8% in the third quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock valued at $1,425,000 after buying an additional 257 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.7 %

NYSE:VZ opened at $42.77 on Monday. The firm has a market capitalization of $180.05 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 4.45 and a beta of 0.45. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $45.36. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The business’s fifty day moving average price is $39.91 and its 200 day moving average price is $41.63.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period last year, the business earned $1.08 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.34%. The ex-dividend date was Friday, January 10th. Verizon Communications’s payout ratio is currently 65.46%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at $262,809.20. This represents a 54.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 39,085 shares of company stock valued at $1,582,995 in the last three months. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

VZ has been the subject of several research analyst reports. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Wolfe Research upped their price objective on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Sanford C. Bernstein initiated coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. Argus upgraded Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.08.

About Verizon Communications

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).