CoreCap Advisors LLC Has $890,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

CoreCap Advisors LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 53.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,253 shares of the cell phone carrier’s stock after selling 25,943 shares during the period. CoreCap Advisors LLC’s holdings in Verizon Communications were worth $890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kirtland Hills Capital Management LLC raised its stake in Verizon Communications by 2.4% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock worth $439,000 after buying an additional 252 shares during the period. JB Capital LLC raised its position in shares of Verizon Communications by 1.3% during the fourth quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock worth $832,000 after purchasing an additional 258 shares during the period. Curbstone Financial Management Corp lifted its holdings in shares of Verizon Communications by 0.8% during the 4th quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock valued at $1,391,000 after purchasing an additional 262 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Verizon Communications by 9.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier’s stock valued at $117,000 after purchasing an additional 263 shares during the period. Finally, Tower Wealth Partners Inc. increased its stake in Verizon Communications by 2.6% during the 4th quarter. Tower Wealth Partners Inc. now owns 10,483 shares of the cell phone carrier’s stock worth $419,000 after purchasing an additional 263 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.1 %

Verizon Communications stock opened at $43.65 on Friday. The stock has a 50-day simple moving average of $43.74 and a 200 day simple moving average of $41.99. The stock has a market capitalization of $184.04 billion, a P/E ratio of 10.54, a PEG ratio of 4.45 and a beta of 0.39. 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 Inc. has a 52 week low of $37.59 and a 52 week high of $47.36.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. The business had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.21%. The ex-dividend date was Thursday, April 10th. Verizon Communications’s payout ratio is 64.52%.

Analysts Set New Price Targets

Several research firms have recently weighed in on VZ. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Wolfe Research cut Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Tigress Financial boosted their price target on Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 28th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.41.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the transaction, the chief executive officer now directly owns 10,008 shares of the company’s stock, valued at approximately $441,352.80. This trade represents a 47.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,500 shares of company stock worth $1,376,300. Insiders own 0.10% of the company’s stock.

About Verizon Communications

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).