Verizon Communications Inc. (NYSE:VZ) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,997 shares of the cell phone carrier’s stock after selling 701 shares during the quarter. Tradition Wealth Management LLC’s holdings in Verizon Communications were worth $1,120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of VZ. Mainstream Capital Management LLC purchased a new position in Verizon Communications in the fourth quarter valued at about $28,000. Legend Financial Advisors Inc. grew 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 worth $31,000 after acquiring an additional 320 shares during the period. Graney & King LLC purchased a new position in Verizon Communications in the 4th quarter valued at approximately $32,000. Compass Financial Services Inc acquired a new position in Verizon Communications during the fourth quarter worth $33,000. Finally, Hager Investment Management Services LLC purchased a new stake in Verizon Communications during the fourth quarter worth $38,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VZ shares. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Scotiabank lifted their target price on shares of Verizon Communications from $48.00 to $48.50 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Argus raised shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.92.

Verizon Communications Trading Up 0.9 %

Shares of VZ stock opened at $44.01 on Monday. The firm’s 50-day simple moving average is $43.46 and its 200-day simple moving average is $41.99. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36. The firm has a market cap of $185.26 billion, a P/E ratio of 10.63, a PEG ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results 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 quarter in the previous year, the company posted $1.08 EPS. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.16%. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Insider Activity

In related news, CEO Kyle Malady sold 8,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the completion of the sale, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. This represents a 54.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock valued at $2,020,895 in the last three months. Corporate insiders own 0.02% of the company’s stock.

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).