Householder Group Estate & Retirement Specialist LLC Sells 928 Shares of Verizon Communications Inc. (NYSE:VZ)

Householder Group Estate & Retirement Specialist LLC decreased its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,746 shares of the cell phone carrier’s stock after selling 928 shares during the period. Householder Group Estate & Retirement Specialist LLC’s holdings in Verizon Communications were worth $480,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA lifted its stake in Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 565 shares during the last quarter. CGC Financial Services LLC bought a new stake in shares of Verizon Communications in the 2nd quarter worth approximately $32,000. HBC Financial Services PLLC raised its holdings in Verizon Communications by 320.0% in the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after purchasing an additional 800 shares in the last quarter. RVW Wealth LLC purchased a new stake in Verizon Communications in the third quarter worth about $36,000. Finally, Financial Management Professionals Inc. grew its stake in Verizon Communications by 58.4% in the fourth quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock worth $41,000 after purchasing an additional 404 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VZ has been the subject of a number of analyst reports. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and raised their target price for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. Raymond James raised their target price on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Wolfe Research upgraded Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research note on Thursday, January 4th. Tigress Financial upped their price target on shares of Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Barclays increased their price target on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.14.

Read Our Latest Research Report on Verizon Communications

Verizon Communications Stock Performance

Verizon Communications stock opened at $42.54 on Wednesday. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.21. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65. The firm has a market capitalization of $178.85 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 3.43 and a beta of 0.41. The company’s 50-day moving average is $40.74 and its 200 day moving average is $37.60.

Verizon Communications (NYSE:VZGet Free Report) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The business had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same period last year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts forecast that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.25%. Verizon Communications’s payout ratio is 96.38%.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the sale, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.03% of the stock is owned by insiders.

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).

See Also

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZFree Report).

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

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