Verizon Communications Inc. (NYSE:VZ) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 34.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,852 shares of the cell phone carrier’s stock after selling 4,607 shares during the period. GM Advisory Group LLC’s holdings in Verizon Communications were worth $354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in Verizon Communications in the fourth quarter valued at about $28,000. Legend Financial Advisors Inc. increased its holdings in shares of 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 acquiring an additional 320 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Verizon Communications in the 4th quarter valued at approximately $33,000. Hager Investment Management Services LLC acquired a new stake in Verizon Communications in the 4th quarter worth approximately $38,000. Finally, Cedar Mountain Advisors LLC boosted its stake in Verizon Communications by 655.5% in the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after purchasing an additional 839 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the 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 completion of the transaction, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $262,809.20. This trade represents a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock valued at $2,020,895 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Verizon Communications Trading Down 0.7 %

Shares of Verizon Communications stock opened at $43.92 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $41.30 and its 200-day simple moving average is $41.98. The stock has a market cap of $184.90 billion, a P/E ratio of 10.61, a P/E/G ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $1.08 EPS. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced 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 yield of 6.17%. Verizon Communications’s payout ratio is 65.46%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VZ shares. UBS Group raised their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Royal Bank of Canada lowered their price target on Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Scotiabank lifted their target price on Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a report on Monday, March 3rd. Finally, DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, January 29th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $46.11.

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).