Verizon Communications Inc. (NYSE:VZ) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC cut its stake in Verizon Communications Inc. (NYSE:VZGet Rating) by 87.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,445 shares of the cell phone carrier’s stock after selling 31,888 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Verizon Communications were worth $231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Econ Financial Services Corp acquired a new stake in shares of Verizon Communications during the 4th quarter worth about $32,000. Ten Capital Wealth Advisors LLC increased its position in shares of Verizon Communications by 45.9% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 795 shares of the cell phone carrier’s stock worth $43,000 after purchasing an additional 250 shares during the last quarter. Bell Investment Advisors Inc acquired a new stake in shares of Verizon Communications during the 3rd quarter worth about $46,000. Iron Horse Wealth Management LLC increased its position in shares of Verizon Communications by 43.4% during the 4th quarter. Iron Horse Wealth Management LLC now owns 988 shares of the cell phone carrier’s stock worth $51,000 after purchasing an additional 299 shares during the last quarter. Finally, Arlington Partners LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth about $54,000. 63.78% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently commented on VZ shares. The Goldman Sachs Group cut Verizon Communications from a “buy” rating to a “neutral” rating and lowered their target price for the company from $61.00 to $55.00 in a report on Monday, April 25th. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on Verizon Communications from $56.00 to $57.00 in a report on Tuesday, January 25th. Tigress Financial lifted their price objective on Verizon Communications from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 21st. Finally, DZ Bank cut Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research note on Friday, April 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $57.93.

In other news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $54.48, for a total value of $84,879.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Tami A. Erwin sold 23,647 shares of the company’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total value of $1,176,911.19. Following the completion of the sale, the chief executive officer now owns 21,817 shares in the company, valued at $1,085,832.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,763 shares of company stock worth $1,342,807. 0.10% of the stock is owned by company insiders.

Shares of NYSE:VZ traded up $0.12 during trading on Friday, reaching $48.18. The company had a trading volume of 21,078,604 shares, compared to its average volume of 26,267,076. The firm has a market capitalization of $202.34 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 2.47 and a beta of 0.42. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. The stock’s fifty day moving average price is $51.22 and its 200 day moving average price is $52.14. Verizon Communications Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $59.26.

Verizon Communications (NYSE:VZGet Rating) last posted its quarterly earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.35. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The firm had revenue of $33.60 billion for the quarter, compared to the consensus estimate of $33.61 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Verizon Communications Inc. will post 5.4 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Friday, April 8th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $2.56 dividend on an annualized basis and a yield of 5.31%. Verizon Communications’s payout ratio is 49.71%.

Verizon Communications Company Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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