Verizon Communications Inc. (NYSE:VZ) Shares Sold by Atria Investments Inc

Atria Investments Inc lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 362,484 shares of the cell phone carrier's stock after selling 9,929 shares during the quarter. Atria Investments Inc's holdings in Verizon Communications were worth $14,496,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VZ. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $28,000. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications during the third quarter worth $31,000. Legend Financial Advisors Inc. boosted its stake in shares of Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after buying an additional 320 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Verizon Communications in the fourth quarter valued at $38,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of VZ stock traded down $0.04 during midday trading on Wednesday, hitting $42.83. The company had a trading volume of 18,034,850 shares, compared to its average volume of 17,724,547. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $45.36. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The company's 50 day simple moving average is $40.40 and its 200 day simple moving average is $41.77. The stock has a market cap of $180.32 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 4.45 and a beta of 0.45.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data 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 net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the firm earned $1.08 earnings per share. Research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.33%. Verizon Communications's payout ratio is currently 65.46%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the transaction, the chief executive officer now owns 6,590 shares of the company's stock, valued at $262,809.20. The trade was a 54.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,085 shares of company stock valued at $2,020,895. Corporate insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VZ shares. Wolfe Research increased their price target on Verizon Communications from $50.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. StockNews.com lowered Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Monday, December 16th. Tigress Financial reaffirmed a "buy" rating and issued a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. TD Cowen upgraded shares of Verizon Communications to a "strong-buy" rating in a report on Wednesday, January 15th. Finally, Sanford C. Bernstein began coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a "market perform" rating and a $48.00 price target for the company. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.11.

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).