Verizon Communications Inc. (NYSE:VZ) Shares Sold by Mine & Arao Wealth Creation & Management LLC.

Mine & Arao Wealth Creation & Management LLC. cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,491 shares of the cell phone carrier’s stock after selling 804 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Verizon Communications were worth $340,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Verizon Communications during the 3rd quarter worth about $31,000. Legend Financial Advisors Inc. lifted its position in shares of Verizon Communications by 69.6% in the fourth 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 in the last quarter. Accordant Advisory Group Inc boosted its holdings in shares of Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 450 shares during the period. Cedar Mountain Advisors LLC grew its position in Verizon Communications by 655.5% during the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after purchasing an additional 839 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Verizon Communications in the 3rd quarter valued at approximately $44,000. 62.06% of the stock is currently owned by institutional investors.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the sale, the chief executive officer now owns 45,675 shares of the company’s stock, valued at $1,851,664.50. The trade was a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.02% of the company’s stock.

Verizon Communications Stock Performance

VZ opened at $39.47 on Friday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The firm has a market capitalization of $166.13 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 4.21 and a beta of 0.46. The stock’s 50 day moving average price is $40.75 and its two-hundred day moving average price is $41.60. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business posted $1.08 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.87%. The ex-dividend date is Friday, January 10th. Verizon Communications’s payout ratio is presently 65.46%.

Analyst Ratings Changes

Several research firms have recently commented on VZ. Tigress Financial restated a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a report on Thursday. Scotiabank upped their target price on Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research report on Monday. Sanford C. Bernstein initiated coverage on Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price objective on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Finally, DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

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).