Verizon Communications Inc. (NYSE:VZ) Stock Position Lowered by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ) by 13.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,927 shares of the cell phone carrier’s stock after selling 1,196 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Verizon Communications were worth $317,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Verizon Communications by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after purchasing an additional 5,936,009 shares in the last quarter. Geode Capital Management LLC increased its stake in Verizon Communications by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock valued at $4,289,054,000 after buying an additional 2,081,241 shares during the period. FMR LLC lifted its position in Verizon Communications by 2.0% in the 3rd quarter. FMR LLC now owns 29,074,297 shares of the cell phone carrier’s stock worth $1,305,727,000 after buying an additional 565,842 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Verizon Communications by 2.8% during the 3rd quarter. Parnassus Investments LLC now owns 18,161,563 shares of the cell phone carrier’s stock valued at $815,636,000 after buying an additional 502,949 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Verizon Communications by 0.4% during the 3rd quarter. Swiss National Bank now owns 12,493,998 shares of the cell phone carrier’s stock valued at $561,105,000 after acquiring an additional 46,100 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,085 shares of company stock worth $2,020,895. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. DZ Bank upgraded 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. Wolfe Research raised their price target on Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Argus upgraded Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Stock Performance

VZ opened at $43.12 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average price is $40.20 and its two-hundred day moving average price is $41.71. The firm has a market capitalization of $181.50 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter last year, the company posted $1.08 earnings per share. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.29%. Verizon Communications’s dividend payout ratio is currently 65.46%.

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).