Venturi Wealth Management LLC Decreases Position in Verizon Communications Inc. (NYSE:VZ)

Venturi Wealth Management LLC trimmed its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,559 shares of the cell phone carrier’s stock after selling 1,062 shares during the quarter. Venturi Wealth Management LLC’s holdings in Verizon Communications were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Certified Advisory Corp grew its stake in shares of Verizon Communications by 1.0% in the first quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock worth $1,187,000 after acquiring an additional 233 shares in the last quarter. Pacifica Partners Inc. lifted its position in Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after acquiring an additional 255 shares during the last quarter. Selective Wealth Management Inc. increased its stake in 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 purchasing an additional 257 shares during the period. Horizon Bancorp Inc. IN increased its stake in Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 258 shares during the period. Finally, Princeton Global Asset Management LLC increased its stake in shares of Verizon Communications by 2.4% during the fourth 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 during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.2 %

VZ traded up $0.08 during trading hours on Wednesday, reaching $42.62. 3,364,143 shares of the stock traded hands, compared to its average volume of 19,932,098. The firm’s fifty day simple moving average is $40.74 and its two-hundred day simple moving average is $37.60. The company has a market cap of $179.19 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 3.43 and a beta of 0.41. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.21. 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:VZGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS 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 firm had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. During the same period in the prior year, the firm posted $1.19 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.24%. Verizon Communications’s dividend payout ratio (DPR) is 96.38%.

Insider Buying and Selling at Verizon Communications

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VZ. Wolfe Research upgraded shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Thursday, January 4th. Wells Fargo & Company upped their price target on shares of Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Tigress Financial upped their price objective on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. UBS Group increased their price target on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, StockNews.com lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $44.50.

View Our Latest Analysis on Verizon Communications

Verizon Communications Company Profile

(Free Report)

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).

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

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