Verizon Communications Inc. (NYSE:VZ) Shares Sold by Meridian Financial Partners LLC

Meridian Financial Partners LLC lowered its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 11.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,360 shares of the cell phone carrier’s stock after selling 4,106 shares during the period. Verizon Communications accounts for approximately 1.3% of Meridian Financial Partners LLC’s portfolio, making the stock its 23rd largest position. Meridian Financial Partners LLC’s holdings in Verizon Communications were worth $1,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CGC Financial Services LLC acquired a new position in shares of Verizon Communications during the second quarter worth $32,000. HBC Financial Services PLLC boosted its stake in Verizon Communications by 320.0% in the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock valued at $34,000 after acquiring an additional 800 shares in the last quarter. True Wealth Design LLC acquired a new position in Verizon Communications in the fourth quarter valued at $42,000. Financial Management Professionals Inc. boosted its stake in Verizon Communications by 58.4% in the fourth quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock valued at $41,000 after acquiring an additional 404 shares in the last quarter. Finally, RVW Wealth LLC acquired a new position in Verizon Communications in the third quarter valued at $36,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insider Activity

In other news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total value of $979,200.00. Following the sale, the chief executive officer now directly owns 35,201 shares in the company, valued at $1,436,200.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on VZ. Royal Bank of Canada upped their price objective on shares of Verizon Communications from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 20th. Barclays upped their price objective on shares of Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and upped their target price for the company from $33.00 to $39.00 in a report on Friday, March 22nd. StockNews.com cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Tigress Financial upped their target price on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

Get Our Latest Analysis on Verizon Communications

Verizon Communications Trading Up 1.0 %

NYSE VZ opened at $41.96 on Friday. The stock has a market capitalization of $176.41 billion, a P/E ratio of 15.20, a P/E/G ratio of 3.40 and a beta of 0.40. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.21. The firm has a 50-day moving average price of $40.68 and a 200 day moving average price of $37.43. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47.

Verizon Communications (NYSE:VZGet Free Report) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The company had revenue of $35.10 billion during the quarter, compared to analysts’ expectations of $34.60 billion. During the same period last year, the company posted $1.19 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts expect that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.665 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.34%. Verizon Communications’s dividend payout ratio is presently 96.38%.

Verizon Communications Company Profile

(Free Report)

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).

Featured Stories

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.