Verizon Communications Inc. (NYSE:VZ) Shares Sold by Counterweight Ventures LLC

Counterweight Ventures LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,072 shares of the cell phone carrier’s stock after selling 645 shares during the quarter. Counterweight Ventures LLC’s holdings in Verizon Communications were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Foundations Investment Advisors LLC lifted its position in Verizon Communications by 27.7% during the 4th quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier’s stock worth $8,892,000 after acquiring an additional 48,294 shares in the last quarter. Kestra Investment Management LLC bought a new position in Verizon Communications during the 3rd quarter valued at $3,376,000. Cyndeo Wealth Partners LLC increased its position in shares of Verizon Communications by 9.7% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock worth $9,095,000 after purchasing an additional 17,855 shares during the last quarter. Burney Co. increased its position in shares of Verizon Communications by 30.4% in the 4th quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock worth $7,463,000 after purchasing an additional 43,472 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of Verizon Communications by 1,934.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock valued at $48,503,000 after purchasing an additional 1,026,930 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now owns 45,675 shares in the company, valued at $1,851,664.50. The trade was a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 39,085 shares of company stock valued at $1,582,995 in the last three months. 0.03% of the stock is currently owned by corporate insiders.

Verizon Communications Stock Down 0.2 %

Shares of VZ stock opened at $39.88 on Friday. The business’s fifty day moving average is $40.18 and its 200-day moving average is $41.53. The stock has a market cap of $167.86 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 4.11 and a beta of 0.45. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter in the prior year, the business posted $1.08 EPS. Equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.6775 dividend. The ex-dividend date was Friday, January 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.80%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. UBS Group boosted their price target on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Sanford C. Bernstein initiated coverage on Verizon Communications in a research note on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price objective on the stock. Tigress Financial reissued a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a report on Thursday, January 30th. Finally, Royal Bank of Canada decreased their price target on shares of Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.08.

Verizon Communications Company 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).