Verizon Communications Inc. (NYSE:VZ) Position Reduced by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 68,049 shares of the cell phone carrier’s stock after selling 3,489 shares during the period. Meeder Advisory Services Inc.’s holdings in Verizon Communications were worth $2,721,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Verizon Communications during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. grew 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 buying an additional 320 shares in the last quarter. Graney & King LLC acquired a new position in Verizon Communications during the fourth quarter valued at $32,000. Compass Financial Services Inc purchased a new stake in Verizon Communications in the 4th quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in Verizon Communications during the 4th quarter worth about $38,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares in the company, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock valued at $2,020,895 in the last 90 days. 0.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on VZ shares. UBS Group upped 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. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Oppenheimer upped their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wolfe Research lowered Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Finally, StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.82.

Verizon Communications Trading Up 0.0 %

NYSE:VZ opened at $45.38 on Wednesday. The company’s 50 day moving average is $42.36 and its 200-day moving average is $42.08. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The firm has a market cap of $191.02 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the business earned $1.08 earnings per share. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 5.97%. Verizon Communications’s payout ratio is 65.46%.

Verizon Communications Company Profile

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).