Howland Capital Management LLC Sells 1,500 Shares of Verizon Communications Inc. (NYSE:VZ)

Howland Capital Management LLC cut its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,214 shares of the cell phone carrier’s stock after selling 1,500 shares during the period. Howland Capital Management LLC’s holdings in Verizon Communications were worth $762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Certified Advisory Corp raised its position in Verizon Communications by 1.0% during the first quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock valued at $1,187,000 after purchasing an additional 233 shares during the period. Pacifica Partners Inc. raised its holdings in shares of Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock worth $223,000 after buying an additional 255 shares during the period. Selective Wealth Management Inc. raised its holdings in shares of Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock worth $374,000 after buying an additional 257 shares during the period. Horizon Bancorp Inc. IN raised its holdings in shares of Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after buying an additional 258 shares during the period. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after buying an additional 260 shares during the period. 62.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VZ shares. Barclays increased their price objective on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Wolfe Research raised Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Thursday, January 4th. KeyCorp increased their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Royal Bank of Canada raised their price objective on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Wells Fargo & Company raised their price objective on Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Check Out Our Latest Research Report on VZ

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.03% of the stock is owned by company insiders.

Verizon Communications Stock Up 0.5 %

Shares of VZ traded up $0.20 during midday trading on Wednesday, hitting $42.74. The company had a trading volume of 3,759,981 shares, compared to its average volume of 19,939,611. The company’s 50-day simple moving average is $40.74 and its 200-day simple moving average is $37.60. The firm has a market capitalization of $179.69 billion, a P/E ratio of 15.46, a P/E/G ratio of 3.43 and a beta of 0.41. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year 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.

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 the consensus estimate of $1.08. The firm had revenue of $35.10 billion during the quarter, compared to analysts’ expectations of $34.60 billion. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.22%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s payout ratio is 96.38%.

Verizon Communications 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).

Further Reading

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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