Verizon Communications Inc. (NYSE:VZ) Shares Sold by Community Bank N.A.

Community Bank N.A. reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,826 shares of the cell phone carrier’s stock after selling 14,198 shares during the period. Verizon Communications makes up about 1.0% of Community Bank N.A.’s investment portfolio, making the stock its 20th biggest holding. Community Bank N.A.’s holdings in Verizon Communications were worth $7,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Verizon Communications by 6.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 93,461 shares of the cell phone carrier’s stock valued at $3,523,000 after acquiring an additional 5,663 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Verizon Communications by 2.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 508,127 shares of the cell phone carrier’s stock worth $19,156,000 after purchasing an additional 10,569 shares during the last quarter. Magnolia Capital Advisors LLC lifted its position in shares of Verizon Communications by 12.1% during the fourth quarter. Magnolia Capital Advisors LLC now owns 34,017 shares of the cell phone carrier’s stock worth $1,282,000 after purchasing an additional 3,682 shares during the last quarter. Wynn Capital LLC bought a new position in shares of Verizon Communications during the fourth quarter worth about $307,000. Finally, Acas LLC bought a new position in shares of Verizon Communications during the fourth quarter worth about $227,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of VZ traded down $0.21 during mid-day trading on Wednesday, reaching $39.49. 15,942,031 shares of the company’s stock traded hands, compared to its average volume of 20,223,914. The business’s 50-day moving average price is $40.51 and its 200-day moving average price is $38.45. The stock has a market capitalization of $166.03 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 3.14 and a beta of 0.41. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.65 and a current ratio of 0.71. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The company had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. Equities analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.74%. Verizon Communications’s dividend payout ratio is presently 99.25%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $47.00 in a research report on Wednesday, January 24th. Barclays increased their price target on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and raised their target price for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Finally, Raymond James raised their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.21.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the transaction, the chief executive officer now 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 is available through this hyperlink. Company insiders own 0.03% of the company’s stock.

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).