Verizon Communications Inc. (NYSE:VZ) Stock Holdings Lowered by Realta Investment Advisors

Realta Investment Advisors cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 17,183 shares of the cell phone carrier’s stock after selling 2,875 shares during the period. Realta Investment Advisors’ holdings in Verizon Communications were worth $692,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Lecap Asset Management Ltd. acquired a new stake in Verizon Communications during the 4th quarter worth about $1,002,000. Golden State Wealth Management LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth approximately $1,058,000. Fairvoy Private Wealth LLC acquired a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $239,000. William Allan Corp lifted its position in shares of Verizon Communications by 5.8% in the 4th quarter. William Allan Corp now owns 10,468 shares of the cell phone carrier’s stock valued at $419,000 after acquiring an additional 570 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. boosted its stake in Verizon Communications by 40.3% in the 4th quarter. Ameliora Wealth Management Ltd. now owns 2,805 shares of the cell phone carrier’s stock worth $112,000 after purchasing an additional 805 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Down 0.5 %

Shares of NYSE:VZ opened at $39.95 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $168.16 billion, a PE ratio of 9.65, a P/E/G ratio of 4.11 and a beta of 0.45. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The firm has a fifty day moving average price of $40.27 and a 200 day moving average price of $41.52.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the company posted $1.08 EPS. Analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend was Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Activity

In related news, CEO Kyle Malady sold 11,085 shares of the stock in a transaction dated Wednesday, January 29th. The shares were 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 in the company, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 39,085 shares of company stock valued at $1,582,995. 0.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VZ. DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, January 29th. Tigress Financial reissued a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Scotiabank raised their price objective on Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. 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. Finally, Wolfe Research raised their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.08.

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).