Verizon Communications Inc. (NYSE:VZ) Position Trimmed by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators trimmed its stake in Verizon Communications Inc. (NYSE:VZ) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,565 shares of the cell phone carrier’s stock after selling 716 shares during the quarter. Verizon Communications accounts for 0.6% of Deseret Mutual Benefit Administrators’ portfolio, making the stock its 28th largest position. Deseret Mutual Benefit Administrators’ holdings in Verizon Communications were worth $1,222,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Foundations Investment Advisors LLC boosted its stake in shares of 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 valued at $8,892,000 after buying an additional 48,294 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Verizon Communications during the third quarter worth $3,376,000. Burney Co. boosted its position in Verizon Communications by 30.4% during the fourth quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock valued at $7,463,000 after purchasing an additional 43,472 shares during the last quarter. Benjamin Edwards Inc. grew its stake in Verizon Communications by 1,934.5% in the third 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. Finally, Global Wealth Management Investment Advisory Inc. purchased a new position in Verizon Communications in the fourth quarter valued at about $4,333,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

NYSE:VZ opened at $42.77 on Friday. 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 one year low of $37.58 and a one year high of $45.36. The company has a fifty day moving average price of $39.91 and a 200 day moving average price of $41.61. The stock has a market cap of $180.05 billion, a P/E ratio of 10.33, a PEG ratio of 4.40 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $1.08 EPS. 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 disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.6775 dividend. The ex-dividend date was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.34%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VZ. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $46.08.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the sale, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 39,085 shares of company stock valued at $1,582,995. 0.02% of the stock is owned by corporate insiders.

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).