Berger Financial Group Inc reduced its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,538 shares of the cell phone carrier’s stock after selling 1,311 shares during the period. Berger Financial Group Inc’s holdings in Verizon Communications were worth $449,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of VZ. Certified Advisory Corp grew its holdings in shares of Verizon Communications by 1.0% during the 1st quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock worth $1,187,000 after purchasing an additional 233 shares in the last quarter. Community Trust & Investment Co. lifted its holdings in shares of Verizon Communications by 0.4% during the fourth quarter. Community Trust & Investment Co. now owns 63,854 shares of the cell phone carrier’s stock valued at $2,516,000 after acquiring an additional 243 shares during the period. Platform Technology Partners boosted its stake in shares of Verizon Communications by 0.9% in the 4th quarter. Platform Technology Partners now owns 29,487 shares of the cell phone carrier’s stock valued at $1,162,000 after purchasing an additional 252 shares in the last quarter. Bouchey Financial Group Ltd increased its position in shares of Verizon Communications by 2.9% during the 4th quarter. Bouchey Financial Group Ltd now owns 8,997 shares of the cell phone carrier’s stock worth $354,000 after purchasing an additional 255 shares in the last quarter. Finally, First Western Trust Bank raised its stake in shares of Verizon Communications by 2.8% in the fourth quarter. First Western Trust Bank now owns 9,527 shares of the cell phone carrier’s stock valued at $375,000 after acquiring an additional 263 shares during the last quarter. 61.83% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Verizon Communications
In other news, EVP Joseph J. Russo sold 7,585 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $36.30, for a total transaction of $275,335.50. Following the sale, the executive vice president now owns 8,582 shares in the company, valued at approximately $311,526.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.02% of the stock is owned by company insiders.
Analyst Ratings Changes
Verizon Communications Price Performance
VZ stock opened at $35.90 on Monday. The stock has a market cap of $150.92 billion, a PE ratio of 6.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. The stock has a 50-day moving average price of $36.32 and a two-hundred day moving average price of $38.23. Verizon Communications Inc. has a 1 year low of $33.72 and a 1 year high of $51.36. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.49.
Verizon Communications (NYSE:VZ – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The cell phone carrier reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. The company had revenue of $32.91 billion during the quarter, compared to analysts’ expectations of $33.64 billion. Verizon Communications had a net margin of 15.85% and a return on equity of 23.31%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business earned $1.35 EPS. Equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.
Verizon Communications Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be issued a $0.6525 dividend. This represents a $2.61 annualized dividend and a dividend yield of 7.27%. The ex-dividend date of this dividend is Friday, July 7th. Verizon Communications’s payout ratio is 50.78%.
Verizon Communications Profile
Verizon Communications Inc, through its subsidiaries, provides 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).
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