Security National Bank of SO Dak Sells 387 Shares of Verizon Communications Inc. (NYSE:VZ)

Security National Bank of SO Dak decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 37,011 shares of the cell phone carrier’s stock after selling 387 shares during the period. Security National Bank of SO Dak’s holdings in Verizon Communications were worth $1,480,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $28,000. Graney & King LLC bought a new position in Verizon Communications in the fourth quarter worth about $32,000. Compass Financial Services Inc purchased a new stake in Verizon Communications in the fourth quarter worth about $33,000. Banque Transatlantique SA bought a new stake in Verizon Communications during the 4th quarter valued at approximately $35,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Verizon Communications in the 4th quarter worth approximately $38,000. Institutional investors own 62.06% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $43.88, for a total value of $329,100.00. Following the transaction, the chief executive officer now owns 19,008 shares of the company’s stock, valued at approximately $834,071.04. This trade represents a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 31,500 shares of company stock worth $1,376,300. Insiders own 0.10% of the company’s stock.

Verizon Communications Trading Up 2.5%

Verizon Communications stock opened at $43.41 on Friday. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The business’s fifty day moving average is $43.57 and its 200 day moving average is $42.01. The stock has a market capitalization of $183.03 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39. 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 (NYSE:VZ) last announced its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. The firm had revenue of $33.50 billion for the quarter, compared to the consensus estimate of $33.31 billion. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date was Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 64.52%.

Wall Street Analyst Weigh In

VZ has been the topic of several research reports. Wolfe Research lowered Verizon Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, March 12th. Evercore ISI raised shares of Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Friday, April 11th. Oppenheimer increased 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Finally, Tigress Financial lifted their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 28th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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).