Verizon Communications Inc. (NYSE:VZ) is TrueMark Investments LLC's 2nd Largest Position

TrueMark Investments LLC grew its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 47.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,781 shares of the cell phone carrier's stock after purchasing an additional 62,383 shares during the quarter. Verizon Communications comprises about 2.5% of TrueMark Investments LLC's holdings, making the stock its 2nd biggest holding. TrueMark Investments LLC's holdings in Verizon Communications were worth $7,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Foundations Investment Advisors LLC boosted its position in shares of Verizon Communications by 27.7% in the 4th quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier's stock worth $8,892,000 after purchasing an additional 48,294 shares in the last quarter. Roffman Miller Associates Inc. PA boosted its holdings in Verizon Communications by 1.8% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 382,678 shares of the cell phone carrier's stock worth $15,303,000 after acquiring an additional 6,795 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Verizon Communications in the third quarter worth $3,376,000. Burney Co. increased its holdings in shares of Verizon Communications by 30.4% during the fourth quarter. Burney Co. now owns 186,621 shares of the cell phone carrier's stock valued at $7,463,000 after acquiring an additional 43,472 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Verizon Communications by 1,934.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier's stock worth $48,503,000 after purchasing an additional 1,026,930 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm's 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. This trade represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Malady sold 8,000 shares of the business'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 completion of the transaction, the chief executive officer now owns 6,590 shares in the company, valued at $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock worth $2,020,895 in the last 90 days. Insiders own 0.02% of the company's stock.

Verizon Communications Stock Up 0.2 %

Shares of VZ traded up $0.10 during trading hours on Friday, hitting $45.06. The company had a trading volume of 11,180,477 shares, compared to its average volume of 19,479,783. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The company's fifty day moving average price is $41.98 and its two-hundred day moving average price is $42.07. The company has a market capitalization of $189.69 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. 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 - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 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 period in the previous year, the business posted $1.08 EPS. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.01%. Verizon Communications's dividend payout ratio is currently 65.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Tigress Financial reaffirmed a "buy" rating and set a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Wednesday, January 29th. StockNews.com cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday. Finally, Wolfe Research cut Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.71.

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).