Rede Wealth LLC Sells 285 Shares of Verizon Communications Inc. (NYSE:VZ)

Rede Wealth LLC lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,502 shares of the cell phone carrier’s stock after selling 285 shares during the quarter. Rede Wealth LLC’s holdings in Verizon Communications were worth $700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in VZ. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications in the 3rd quarter valued at about $31,000. Accordant Advisory Group Inc raised its holdings in shares of Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after acquiring an additional 450 shares in the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at about $38,000. Finally, Cedar Mountain Advisors LLC raised its holdings in shares of Verizon Communications by 655.5% in the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after acquiring an additional 839 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of VZ stock opened at $39.88 on Friday. The firm has a market cap of $167.86 billion, a P/E ratio of 9.63, a P/E/G ratio of 4.17 and a beta of 0.45. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $45.36. The business’s 50 day moving average price is $40.18 and its 200-day moving average price is $41.53. 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 issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period in the prior year, the business earned $1.08 earnings per share. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.6775 per share. 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 presently 65.46%.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the sale, the chief executive officer now directly owns 14,590 shares in the company, valued at $596,439.20. The trade was a 43.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 39,085 shares of company stock worth $1,582,995 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on VZ. KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, January 29th. Finally, Scotiabank raised their price objective on Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a report on Monday, January 27th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.08.

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).