Verizon Communications Inc. (NYSE:VZ) Shares Sold by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC cut its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 11.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,971 shares of the cell phone carrier’s stock after selling 1,980 shares during the period. Trueblood Wealth Management LLC’s holdings in Verizon Communications were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications in the third quarter valued at $31,000. Legend Financial Advisors Inc. raised its position in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 320 shares in the last quarter. Accordant Advisory Group Inc lifted its holdings in Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after acquiring an additional 450 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Verizon Communications in the 3rd quarter worth approximately $44,000. Finally, IFS Advisors LLC lifted its stake in Verizon Communications by 244.1% during the fourth quarter. IFS Advisors LLC now owns 1,115 shares of the cell phone carrier’s stock valued at $45,000 after purchasing an additional 791 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 1.4 %

Shares of NYSE:VZ opened at $38.86 on Monday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The company has a market capitalization of $163.58 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 3.17 and a beta of 0.46. The business has a fifty day moving average price of $41.03 and a two-hundred day moving average price of $41.69. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62.

Verizon Communications (NYSE:VZGet Free Report) last issued its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $1.22 earnings per share. Analysts forecast that Verizon Communications Inc. will post 4.6 earnings per share for the current year.

Verizon Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.6775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.97%. Verizon Communications’s dividend payout ratio is currently 116.81%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VZ. Bank of America lifted their price target on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their price target on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a report on Monday, September 23rd. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Tigress Financial boosted their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, UBS Group increased their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.54.

Get Our Latest Stock Report on Verizon Communications

Verizon Communications Company Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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