Verizon Communications Inc. (NYSE:VZ) Stock Holdings Trimmed by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,137 shares of the cell phone carrier’s stock after selling 3,971 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Verizon Communications were worth $1,445,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of VZ. Austin Private Wealth LLC grew its position in Verizon Communications by 3.0% in the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock valued at $379,000 after acquiring an additional 243 shares during the last quarter. Cary Street Partners Asset Management LLC boosted its stake in shares of Verizon Communications by 3.4% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after purchasing an additional 249 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Verizon Communications by 0.3% in the 3rd quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock valued at $4,091,000 after purchasing an additional 250 shares in the last quarter. Encompass Wealth Advisors LLC grew its holdings in shares of Verizon Communications by 2.0% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock valued at $562,000 after purchasing an additional 250 shares during the last quarter. Finally, First Dallas Securities Inc. increased its position in Verizon Communications by 0.8% during the 3rd quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock worth $1,425,000 after purchasing an additional 257 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

VZ stock opened at $42.77 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm has a market cap of $180.05 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 4.40 and a beta of 0.45. The company’s fifty day simple moving average is $39.91 and its 200 day simple moving average is $41.61. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (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 period last year, the company earned $1.08 earnings per share. On average, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.34%. The ex-dividend date was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Insider Activity

In other news, CEO Kyle Malady sold 20,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the sale, the chief executive officer now directly owns 45,675 shares in the company, valued at $1,851,664.50. This trade represents a 30.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 39,085 shares of company stock worth $1,582,995 in the last quarter. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

VZ has been the topic of a number of research analyst reports. Royal Bank of Canada cut their target price on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Wolfe Research raised their price objective on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group boosted their price objective on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Ten 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’s stock. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average 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).