Midland Wealth Advisors LLC Has $627,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

Midland Wealth Advisors LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 24.6% in the 1st quarter, Holdings Channel reports. The firm owned 13,833 shares of the cell phone carrier’s stock after selling 4,517 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Verizon Communications were worth $627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Private Wealth Advisors LLC increased its position in shares of Verizon Communications by 9.0% during the first quarter. International Private Wealth Advisors LLC now owns 12,140 shares of the cell phone carrier’s stock worth $551,000 after buying an additional 999 shares during the period. Tounjian Advisory Partners LLC bought a new stake in Verizon Communications during the first quarter valued at $2,088,000. Pallas Capital Advisors LLC grew its holdings in Verizon Communications by 6.6% during the 1st quarter. Pallas Capital Advisors LLC now owns 88,603 shares of the cell phone carrier’s stock worth $4,019,000 after acquiring an additional 5,460 shares during the period. Farther Finance Advisors LLC grew its holdings in Verizon Communications by 37.2% during the 1st quarter. Farther Finance Advisors LLC now owns 79,163 shares of the cell phone carrier’s stock worth $3,592,000 after acquiring an additional 21,469 shares during the period. Finally, City Holding Co. raised its position in shares of Verizon Communications by 3.4% in the 1st quarter. City Holding Co. now owns 41,083 shares of the cell phone carrier’s stock worth $1,863,000 after acquiring an additional 1,339 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insider Activity

In other news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the sale, the chief executive officer now owns 10,008 shares in the company, valued at $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 21,500 shares of company stock worth $938,400 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Verizon Communications Stock Up 1.2%

Verizon Communications stock opened at $43.82 on Monday. The firm has a market capitalization of $184.76 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 4.45 and a beta of 0.38. The firm’s fifty day moving average price is $43.44 and its two-hundred day moving average price is $42.28. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. On average, equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.18%. Verizon Communications’s dividend payout ratio (DPR) is presently 64.52%.

Analysts Set New Price Targets

VZ has been the topic of several research analyst reports. Tigress Financial upped their target price on Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Wolfe Research lowered Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Wall Street Zen cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Scotiabank raised their price objective on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Nine 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.41.

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).