Verizon Communications Inc. (NYSE:VZ) Shares Sold by Avalon Trust Co

Avalon Trust Co cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 25.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,050 shares of the cell phone carrier’s stock after selling 704 shares during the period. Avalon Trust Co’s holdings in Verizon Communications were worth $77,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacifica Partners Inc. lifted its holdings in shares of Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock worth $223,000 after acquiring an additional 255 shares during the last quarter. Selective Wealth Management Inc. boosted its position in Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after buying an additional 257 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of Verizon Communications by 24.9% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after buying an additional 258 shares during the last quarter. Princeton Global Asset Management LLC grew its stake in shares of Verizon Communications by 2.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after buying an additional 260 shares during the last quarter. Finally, Western Financial Corp CA increased its holdings in shares of Verizon Communications by 1.7% during the fourth quarter. Western Financial Corp CA now owns 16,564 shares of the cell phone carrier’s stock worth $624,000 after buying an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.1 %

NYSE VZ traded down $0.04 during mid-day trading on Friday, reaching $38.89. 13,195,563 shares of the stock were exchanged, compared to its average volume of 20,003,748. The stock has a market cap of $163.70 billion, a P/E ratio of 14.51, a P/E/G ratio of 2.82 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The stock has a 50 day simple moving average of $40.32 and a 200-day simple moving average of $38.90.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. The firm had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. On average, analysts anticipate that Verizon Communications Inc. will post 4.6 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 6.84%. The ex-dividend date was Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VZ shares. Oppenheimer reissued an “outperform” rating and set a $48.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. Royal Bank of Canada boosted their price target on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 2nd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday. KeyCorp lifted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.21.

Insiders Place Their Bets

In other Verizon Communications 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 value of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company 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).