Verizon Communications Inc. (NYSE:VZ) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 437,001 shares of the cell phone carrier’s stock after selling 29,556 shares during the quarter. Pathstone Holdings LLC’s holdings in Verizon Communications were worth $17,477,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of VZ. Mainstream Capital Management LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $28,000. Graney & King LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $32,000. Compass Financial Services Inc acquired a new position in Verizon Communications in the fourth quarter valued at about $33,000. Banque Transatlantique SA acquired a new position in Verizon Communications in the fourth quarter valued at about $35,000. Finally, Hager Investment Management Services LLC purchased a new stake in Verizon Communications during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $42.45 on Thursday. The firm has a market capitalization of $178.98 billion, a P/E ratio of 10.25, a P/E/G ratio of 4.45 and a beta of 0.39. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm’s 50 day moving average is $43.64 and its two-hundred day moving average is $42.00.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. Research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend was Thursday, April 10th. Verizon Communications’s payout ratio is currently 64.52%.

Insider Activity

In related news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This trade represents a 40.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kyle Malady sold 5,000 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total value of $212,400.00. Following the sale, the chief executive officer now directly owns 36,508 shares of the company’s stock, valued at approximately $1,550,859.84. This represents a 12.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,500 shares of company stock valued at $1,376,300. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on VZ. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Oppenheimer boosted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Finally, Tigress Financial boosted their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.41.

Verizon Communications 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).