Verizon Communications Inc. (NYSE:VZ) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,125 shares of the cell phone carrier’s stock after selling 290 shares during the quarter. Mission Wealth Management LP’s holdings in Verizon Communications were worth $1,136,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of VZ. Pacifica Partners Inc. boosted its position in Verizon Communications by 4.6% during the 4th quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock worth $223,000 after purchasing an additional 255 shares during the period. Selective Wealth Management Inc. grew its stake 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 valued at $374,000 after buying an additional 257 shares in the last quarter. Horizon Bancorp Inc. IN raised its holdings in shares of Verizon Communications by 24.9% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock valued at $49,000 after buying an additional 258 shares during the period. Princeton Global Asset Management LLC lifted its position in Verizon Communications by 2.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after acquiring an additional 260 shares in the last quarter. Finally, Western Financial Corp CA boosted its holdings in Verizon Communications by 1.7% in the 4th quarter. Western Financial Corp CA now owns 16,564 shares of the cell phone carrier’s stock worth $624,000 after acquiring an additional 271 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.8 %

Verizon Communications stock opened at $39.19 on Thursday. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a market capitalization of $164.96 billion, a P/E ratio of 14.62, a P/E/G ratio of 2.91 and a beta of 0.41. The company has a 50-day simple moving average of $40.40 and a 200-day simple moving average of $38.74.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same period in the previous year, the business earned $1.20 earnings per share. Verizon Communications’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts expect that Verizon Communications Inc. will post 4.6 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 6.79%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s dividend payout ratio is presently 99.25%.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $40.33, for a total transaction of $604,950.00. Following the sale, the chief executive officer now owns 59,201 shares in the company, valued at approximately $2,387,576.33. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group boosted their target price on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Tigress Financial lifted their price objective on Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Wolfe Research raised shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a research report on Thursday, January 4th. Wells Fargo & Company cut their price target on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.21.

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).