United Capital Financial Advisors LLC Sells 20,217 Shares of Verizon Communications Inc. (NYSE:VZ)

United Capital Financial Advisors LLC lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 237,935 shares of the cell phone carrier's stock after selling 20,217 shares during the quarter. United Capital Financial Advisors LLC's holdings in Verizon Communications were worth $9,515,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new stake in Verizon Communications in the 4th quarter worth $28,000. Legend Financial Advisors Inc. grew its holdings in shares of Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after purchasing an additional 320 shares during the last quarter. Graney & King LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth approximately $32,000. Compass Financial Services Inc bought a new stake in Verizon Communications during the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC bought a new position in Verizon Communications in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Up 0.9 %

NYSE VZ traded up $0.40 during trading on Friday, hitting $44.01. The stock had a trading volume of 16,479,869 shares, compared to its average volume of 20,166,780. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The company's 50-day moving average price is $43.39 and its two-hundred day moving average price is $42.04. The company has a market capitalization of $185.26 billion, a PE ratio of 10.63, a P/E/G ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 in the prior year, the company posted $1.08 earnings per share. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently declared 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. This represents a $2.71 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Thursday, April 10th. Verizon Communications's dividend payout ratio (DPR) is 65.46%.

Insider Transactions at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company's stock, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 6,590 shares of the company's stock, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 0.02% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VZ shares. Royal Bank of Canada restated a "sector perform" rating and set a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. UBS Group raised their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, December 20th. DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Wednesday, January 29th. Scotiabank upped their price objective on Verizon Communications from $48.00 to $48.50 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Finally, TD Cowen upgraded Verizon Communications to a "strong-buy" rating in a research report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.92.

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).