Sound View Wealth Advisors Group LLC Has $2.31 Million Position in Verizon Communications Inc. (NYSE:VZ)

Sound View Wealth Advisors Group LLC lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,708 shares of the cell phone carrier’s stock after selling 11,940 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Verizon Communications were worth $2,308,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of VZ. Mainstream Capital Management LLC acquired a new position in Verizon Communications during the fourth quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new position in Verizon Communications during the third quarter valued at approximately $31,000. Legend Financial Advisors Inc. grew its holdings in Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the period. Compass Financial Services Inc acquired a new position in Verizon Communications during the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC bought a new position in Verizon Communications in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insider Buying and Selling at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm’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 transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This trade represents a 40.88 % 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, 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 transaction of $810,800.00. Following the transaction, the chief executive officer now directly owns 45,675 shares in the company, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock worth $2,020,895 over the last ninety days. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Argus raised shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Scotiabank lifted their price target on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research note on Monday, March 3rd. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Finally, StockNews.com raised shares of Verizon Communications from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.11.

Verizon Communications Stock Performance

NYSE VZ opened at $46.13 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The firm’s fifty day moving average price is $40.61 and its two-hundred day moving average price is $41.83. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $46.20. The firm has a market capitalization of $194.20 billion, a P/E ratio of 11.14, a price-to-earnings-growth 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 (EPS) for the quarter, missing the consensus estimate 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 prior year, the business earned $1.08 EPS. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 annualized dividend and a dividend yield of 5.87%. Verizon Communications’s dividend payout ratio is currently 65.46%.

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).