Imprint Wealth LLC Has $1.47 Million Position in Verizon Communications Inc. (NYSE:VZ)

Imprint Wealth LLC trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,689 shares of the cell phone carrier’s stock after selling 1,618 shares during the quarter. Verizon Communications accounts for 1.2% of Imprint Wealth LLC’s portfolio, making the stock its 23rd largest holding. Imprint Wealth LLC’s holdings in Verizon Communications were worth $1,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Portland Investment Counsel Inc. raised its position in Verizon Communications by 173.7% in the third quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock worth $21,137,000 after purchasing an additional 413,869 shares in the last quarter. Dynamic Advisor Solutions LLC grew its position in Verizon Communications by 1.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after acquiring an additional 1,616 shares during the period. 180 Wealth Advisors LLC grew its holdings in shares of Verizon Communications by 6.2% in the 3rd quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock worth $1,677,000 after purchasing an additional 3,020 shares during the last quarter. GFS Advisors LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth about $212,000. Finally, Fidelity D & D Bancorp Inc. acquired a new position in Verizon Communications in the third quarter valued at about $306,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Verizon Communications

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

Analyst Ratings Changes

Several analysts have recently weighed in on VZ shares. KeyCorp raised their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Tigress Financial lifted their price target on Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Finally, Raymond James raised their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Verizon Communications Stock Down 1.0 %

NYSE:VZ traded down $0.40 during trading hours on Tuesday, reaching $39.71. 4,325,206 shares of the stock were exchanged, compared to its average volume of 19,570,965. The stock has a market cap of $166.95 billion, a PE ratio of 14.38, a PEG ratio of 3.24 and a beta of 0.41. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.42. The firm has a 50 day moving average of $40.58 and a 200 day moving average of $38.10. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The business had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 annualized dividend and a yield of 6.70%. Verizon Communications’s dividend payout ratio (DPR) is presently 96.38%.

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).