Security Asset Management sells 3,504 shares of Verizon Communications Inc. (NYSE: VZ)

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Verizon Communications logoSecurity Asset Management reduced its equity stake in Verizon Communications Inc. (NYSE: VZGet a rating) by 20.9% during the fourth quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The company held 13,227 shares of the mobile operator after selling 3,504 shares during the quarter. Security Asset Management’s holdings in Verizon Communications were worth $687,000 when it last filed with the SEC.

Other institutional investors also changed their stake in the company. Inverness Counsel LLC NY increased its position in Verizon Communications by 5.1% in the third quarter. Inverness Counsel LLC NY now owns 11,527 shares of the mobile operator worth $623,000 after buying an additional 558 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in Verizon Communications by 27.2% in Q3. Wolff Wiese Magana LLC now owns 43,142 shares of the mobile operator worth $2,331,000 after buying 9,237 additional shares last quarter. Keudell Morrison Wealth Management increased its stake in Verizon Communications by 0.9% in the third quarter. Keudell Morrison Wealth Management now owns 47,613 shares of the mobile operator worth $2,572,000 after buying 448 additional shares during the period. Monument Capital Management increased its stake in Verizon Communications by 9.8% during the third quarter. Monument Capital Management now owns 6,298 shares of the mobile operator valued at $340,000 after buying an additional 564 shares last quarter. Finally, Eudaimonia Partners LLC increased its position in Verizon Communications shares by 2.6% during the third quarter. Eudaimonia Partners LLC now owns 71,953 shares of the mobile operator valued at $3,886,000 after purchasing an additional 1,835 shares during the period. Institutional investors and hedge funds hold 62.93% of the company’s shares.

Shares of VZ-share traded at $0.89 in midday trading on Monday, reaching $54.42. 585,052 shares of the company were traded, compared to its average volume of 24,276,723. Verizon Communications Inc. has a 12-month low of $49.69 and a 12-month high of $59.85. The company has a market capitalization of $228.45 billion, a P/E ratio of 10.04, a P/E/G ratio of 3.64 and a beta of 0.39. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt ratio of 1.72. The company’s 50-day moving average price is $52.85 and its 200-day moving average price is $52.64.

Verizon Communications (NYSE: VZGet a rating) last announced its results on Tuesday, January 25. The mobile carrier reported EPS of $1.31 for the quarter, beating the Zacks consensus estimate of $1.28 by $0.03. Verizon Communications had a net margin of 16.51% and a return on equity of 28.94%. The company posted revenue of $34.10 billion for the quarter, versus $33.98 billion expected by analysts. In the same quarter a year earlier, the company posted EPS of $1.21. The company’s quarterly revenue increased 1.8% year over year. Stock analysts predict Verizon Communications Inc. will post earnings per share of 5.45 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 2. Shareholders of record on Friday, April 8 will receive a dividend of $0.64. The ex-date of this dividend is Thursday, April 7. This represents an annualized dividend of $2.56 and a dividend yield of 4.70%. Verizon Communications’ dividend payout ratio is currently 48.03%.

A number of stock analysts have recently commented on VZ shares. JPMorgan Chase & Co. downgraded shares of Verizon Communications from an ‘overweight’ rating to a ‘neutral’ rating and cut its price target for the company from $62.00 to $56.00 in a research report from Wednesday 26 January. Tigress Financial raised its price target on Verizon Communications shares from $67.00 to $68.00 and gave the company a “buy” rating in a Friday, January 21 research report. Deutsche Bank Aktiengesellschaft raised its price target on Verizon Communications shares from $56.00 to $57.00 in a research report on Tuesday, January 25. StockNews.com began covering Verizon Communications stocks in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a price target of $61.00 on Verizon Communications shares in a research note on Friday, March 4. One analyst rated the stock with a sell rating, eleven gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat, Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $59.20.

Separately, Executive Vice President Craig L. Silliman sold 1,558 shares in a trade that took place on Monday, April 4. The shares were sold at an average price of $52.00, for a total transaction of $81,016.00. The sale was disclosed in an SEC filing, available at the SEC website. Also, CEO Hans Erik Vestberg acquired 19,000 shares in a transaction that took place on Wednesday, January 26. The shares were purchased at an average price of $52.55 per share, for a total transaction of $998,450.00. Disclosure of this purchase can be found here. Company insiders own 0.02% of the company’s shares.

Verizon Communication Profile (Get a rating)

Verizon Communications Inc, through its subsidiaries, provides communications, technology, information and entertainment products and services to consumers, businesses and government entities worldwide. Its Consumer segment offers postpaid and prepaid service plans; Internet access on laptops and tablets; wireless equipment, including smartphones and other handsets; and wireless Internet devices, such as tablets, and other wirelessly connected devices including smart watches.

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Institutional ownership by quarter for Verizon Communications (NYSE:VZ)



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