Verizon Communications Inc. (NYSE:VZ) Shares Sold by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC decreased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,187 shares of the cell phone carrier's stock after selling 7,189 shares during the period. SevenBridge Financial Group LLC's holdings in Verizon Communications were worth $1,749,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. OneAscent Financial Services LLC lifted its holdings in Verizon Communications by 35.8% in the 4th quarter. OneAscent Financial Services LLC now owns 14,587 shares of the cell phone carrier's stock worth $583,000 after buying an additional 3,846 shares in the last quarter. Creekmur Asset Management LLC lifted its stake in shares of Verizon Communications by 819.7% in the fourth quarter. Creekmur Asset Management LLC now owns 10,852 shares of the cell phone carrier's stock worth $434,000 after acquiring an additional 9,672 shares in the last quarter. Bryce Point Capital LLC acquired a new position in shares of Verizon Communications in the fourth quarter worth about $483,000. Huntington National Bank boosted its holdings in Verizon Communications by 23.4% in the fourth quarter. Huntington National Bank now owns 1,304,575 shares of the cell phone carrier's stock valued at $52,170,000 after purchasing an additional 247,142 shares during the last quarter. Finally, Intrepid Capital Management Inc. grew its stake in Verizon Communications by 39.0% during the 4th quarter. Intrepid Capital Management Inc. now owns 7,217 shares of the cell phone carrier's stock valued at $289,000 after purchasing an additional 2,024 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

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Verizon Communications Stock Performance

Shares of VZ traded down $0.64 during midday trading on Wednesday, hitting $44.74. 21,874,826 shares of the stock traded hands, compared to its average volume of 19,563,969. The business's 50 day moving average price is $42.48 and its two-hundred day moving average price is $42.10. The firm has a market capitalization of $188.34 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business earned $1.08 EPS. Equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Thursday, April 10th. Verizon Communications's dividend payout ratio (DPR) is 65.46%.

Analysts Set New Price Targets

VZ has been the subject of several research analyst reports. Wolfe Research cut Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. StockNews.com downgraded shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. TD Cowen raised shares of Verizon Communications to a "strong-buy" rating in a research report on Wednesday, January 15th. Scotiabank increased their price target on shares of Verizon Communications from $47.50 to $48.00 and gave the stock a "sector perform" rating in a research report on Monday, March 3rd. Finally, DZ Bank raised Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and an average target price of $46.82.

Insider Activity at Verizon Communications

In related news, 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 value of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kyle Malady sold 8,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock worth $2,020,895 in the last three months. 0.03% of the stock is owned by company insiders.

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).