Nicolet Advisory Services LLC Decreases Stake in Verizon Communications Inc. (NYSE:VZ)

Nicolet Advisory Services LLC reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,646 shares of the cell phone carrier’s stock after selling 1,607 shares during the period. Nicolet Advisory Services LLC’s holdings in Verizon Communications were worth $554,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in Verizon Communications during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. boosted its position in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 320 shares during the last quarter. Graney & King LLC acquired a new position in Verizon Communications in the 4th quarter worth approximately $32,000. Compass Financial Services Inc purchased a new position in Verizon Communications during the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in Verizon Communications during the 4th quarter valued at approximately $38,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 1.9 %

VZ stock opened at $45.60 on Friday. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36. 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 firm has a 50-day simple moving average of $42.61 and a 200-day simple moving average of $42.13. The stock has a market capitalization of $191.95 billion, a P/E ratio of 11.01, a P/E/G ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 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 period in the previous year, the business earned $1.08 EPS. Equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 5.94%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research reports. Oppenheimer increased their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. UBS Group boosted their price objective on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Wolfe Research lowered Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $46.82.

Insider Activity at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kyle Malady sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the completion of the sale, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 49,085 shares of company stock valued at $2,020,895. 0.03% of the stock is owned by insiders.

About Verizon Communications

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).