Verizon Communications Inc. (NYSE:VZ) Holdings Lowered by Archford Capital Strategies LLC

Archford Capital Strategies LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,037 shares of the cell phone carrier’s stock after selling 368 shares during the period. Archford Capital Strategies LLC’s holdings in Verizon Communications were worth $909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. raised its holdings in shares of Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC increased its holdings in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 244 shares in the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications in the first quarter valued at $26,000. Mainstream Capital Management LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at $28,000. Finally, Mattson Financial Services LLC increased its holdings in shares of Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VZ shares. Evercore ISI raised Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Friday, April 11th. Scotiabank boosted their price objective on Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 23rd. Tigress Financial boosted their price objective on Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Wolfe Research downgraded Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.41.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $42.48, for a total value of $212,400.00. Following the completion of the sale, the chief executive officer now directly owns 36,508 shares of the company’s stock, valued at $1,550,859.84. The trade was a 12.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Down 1.1%

VZ stock opened at $42.15 on Thursday. The company has a 50 day moving average of $43.22 and a two-hundred day moving average of $42.21. The company has a market cap of $177.71 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 3.16 and a beta of 0.38. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $47.36. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last posted its quarterly 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. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. The business had revenue of $33.50 billion for the quarter, compared to the consensus estimate of $33.31 billion. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.6775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.43%. Verizon Communications’s dividend payout ratio (DPR) is currently 64.52%.

Verizon Communications 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).