Verizon Communications Inc. (NYSE:VZ) is Alpha Omega Wealth Management LLC’s 9th Largest Position

Alpha Omega Wealth Management LLC trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,474 shares of the cell phone carrier’s stock after selling 6,216 shares during the quarter. Verizon Communications accounts for approximately 1.8% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Alpha Omega Wealth Management LLC’s holdings in Verizon Communications were worth $9,657,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VZ. AMF Tjanstepension AB boosted its stake in Verizon Communications by 58.0% in the third quarter. AMF Tjanstepension AB now owns 1,756,452 shares of the cell phone carrier’s stock valued at $78,975,000 after acquiring an additional 644,761 shares during the last quarter. Czech National Bank increased its position in shares of Verizon Communications by 6.9% during the third quarter. Czech National Bank now owns 857,524 shares of the cell phone carrier’s stock valued at $38,511,000 after buying an additional 55,411 shares during the period. Johnson & White Wealth Management LLC lifted its stake in Verizon Communications by 13.8% in the 3rd quarter. Johnson & White Wealth Management LLC now owns 9,308 shares of the cell phone carrier’s stock worth $418,000 after purchasing an additional 1,130 shares in the last quarter. Duncan Williams Asset Management LLC bought a new stake in Verizon Communications during the third quarter valued at $318,000. Finally, Rockland Trust Co. boosted its position in shares of Verizon Communications by 1.1% during the 3rd quarter. Rockland Trust Co. now owns 418,526 shares of the cell phone carrier’s stock valued at $18,796,000 after acquiring an additional 4,586 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.2 %

VZ opened at $39.41 on Friday. The firm has a market capitalization of $165.88 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 4.21 and a beta of 0.46. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36. The business has a 50 day simple moving average of $40.61 and a two-hundred day simple moving average of $41.57. 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 (NYSE:VZ) last announced its quarterly earnings results 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 return on equity of 19.80% and a net margin of 12.99%. During the same period in the previous year, the business posted $1.08 earnings per share. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.6775 per share. The ex-dividend date is Friday, January 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.88%. Verizon Communications’s payout ratio is 65.46%.

Analyst Ratings Changes

Several research analysts recently issued reports on VZ shares. DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday. Sanford C. Bernstein started coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. 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. Royal Bank of Canada cut their target price on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Finally, UBS Group increased their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.08.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the sale, the chief executive officer now owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.02% of the stock is owned by company insiders.

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).