1900 Wealth Management LLC Has $211,000 Stake in Verizon Communications Inc. (NYSE:VZ)

1900 Wealth Management LLC reduced its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,601 shares of the cell phone carrier’s stock after selling 588 shares during the period. 1900 Wealth Management LLC’s holdings in Verizon Communications were worth $211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. RWA Wealth Partners LLC boosted its position in shares of Verizon Communications by 69.5% during the fourth quarter. RWA Wealth Partners LLC now owns 81,621 shares of the cell phone carrier’s stock worth $3,077,000 after buying an additional 33,474 shares during the period. Sage Mountain Advisors LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth about $226,000. Significant Wealth Partners LLC bought a new stake in Verizon Communications during the fourth quarter worth about $238,000. Diversified LLC raised its holdings in Verizon Communications by 3.1% during the fourth quarter. Diversified LLC now owns 10,299 shares of the cell phone carrier’s stock worth $388,000 after acquiring an additional 306 shares in the last quarter. Finally, Telemus Capital LLC raised its holdings in Verizon Communications by 4.8% during the fourth quarter. Telemus Capital LLC now owns 30,298 shares of the cell phone carrier’s stock worth $1,142,000 after acquiring an additional 1,391 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VZ. Royal Bank of Canada upped their target price on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 2nd. Barclays upped their target price on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. KeyCorp upped their target price on Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. StockNews.com lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Daiwa Capital Markets upgraded Verizon Communications from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $47.00 in a report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $44.21.

Insider Activity

In related 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 transaction of $979,200.00. Following the sale, the chief executive officer now owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is owned by company insiders.

Verizon Communications Price Performance

Verizon Communications stock opened at $39.69 on Wednesday. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The stock’s 50 day moving average is $40.52 and its 200-day moving average is $38.44. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $166.85 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 3.14 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The company had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s payout ratio is 99.25%.

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).