KCM Investment Advisors LLC Sells 4,206 Shares of Verizon Communications Inc. (NYSE:VZ)

KCM Investment Advisors LLC lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 297,133 shares of the cell phone carrier’s stock after selling 4,206 shares during the quarter. KCM Investment Advisors LLC’s holdings in Verizon Communications were worth $11,882,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VZ. Quarry LP grew its holdings in shares of Verizon Communications by 74.2% during the 3rd quarter. Quarry LP now owns 4,012 shares of the cell phone carrier’s stock worth $180,000 after purchasing an additional 1,709 shares in the last quarter. Stevens Capital Management LP acquired a new stake in Verizon Communications during the third quarter worth $464,000. Texas Capital Bank Wealth Management Services Inc increased its holdings in Verizon Communications by 16.6% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 37,506 shares of the cell phone carrier’s stock valued at $1,684,000 after buying an additional 5,340 shares during the period. Wexford Capital LP acquired a new position in shares of Verizon Communications in the 3rd quarter valued at $723,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Verizon Communications by 56.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 459,777 shares of the cell phone carrier’s stock worth $20,649,000 after acquiring an additional 166,137 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Down 5.5 %

Shares of VZ opened at $43.11 on Friday. The firm has a market capitalization of $181.47 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The business’s fifty day moving average price is $42.68 and its two-hundred day moving average price is $42.11.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 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 period last year, the business earned $1.08 earnings per share. On average, analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.29%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Wall Street Analysts Forecast Growth

VZ has been the subject of several recent research reports. DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, January 29th. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft upped their price target on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. UBS Group lifted 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $46.82.

Insider Buying and Selling at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the transaction, the chief executive officer now directly owns 14,590 shares in the company, valued at $596,439.20. The trade was a 43.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.03% of the stock is currently owned by insiders.

Verizon Communications 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).