Verizon Communications Inc. (NYSE:VZ) Position Trimmed by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,412 shares of the cell phone carrier’s stock after selling 11,953 shares during the period. Great Valley Advisor Group Inc.’s holdings in Verizon Communications were worth $2,856,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Mainstream Capital Management LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $28,000. Graney & King LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $32,000. Compass Financial Services Inc acquired a new position in shares of Verizon Communications in the 4th quarter valued at $33,000. Banque Transatlantique SA acquired a new position in shares of Verizon Communications in the 4th quarter valued at $35,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $38,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.6%

VZ opened at $43.38 on Tuesday. The business has a 50-day moving average of $43.59 and a 200-day moving average of $42.15. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $47.36. The company has a market capitalization of $182.91 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39.

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

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date was Thursday, April 10th. Verizon Communications’s payout ratio is 64.52%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of recent analyst reports. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, January 29th. Oppenheimer raised their price objective on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Finally, Scotiabank raised their price objective on Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.41.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total value of $329,100.00. Following the transaction, the chief executive officer now directly owns 19,008 shares of the company’s stock, valued at approximately $834,071.04. This trade represents a 28.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 21,500 shares of company stock valued at $938,400. Corporate insiders own 0.10% of the company’s stock.

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).