Verizon Communications (VZ) Shares Sold by Alliance Wealth Management Group

Alliance Wealth Management Group cut its stake in Verizon Communications (NYSE:VZ) by 54.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,111 shares of the cell phone carrier’s stock after selling 6,003 shares during the period. Alliance Wealth Management Group’s holdings in Verizon Communications were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Verizon Communications by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after purchasing an additional 5,837,702 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Verizon Communications by 15.1% during the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after purchasing an additional 20,070,391 shares in the last quarter. FMR LLC increased its stake in shares of Verizon Communications by 15.0% during the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after purchasing an additional 8,077,275 shares in the last quarter. Legal & General Group Plc boosted its position in Verizon Communications by 2.7% during the third quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock worth $1,212,227,000 after acquiring an additional 636,014 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Verizon Communications by 19.9% during the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock worth $974,515,000 after acquiring an additional 3,623,182 shares during the last quarter. 64.00% of the stock is owned by institutional investors.

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Shares of VZ opened at $47.48 on Friday. The firm has a market capitalization of $199,132.98, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.96 and a beta of 0.64. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The company had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. sell-side analysts forecast that Verizon Communications will post 4.54 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a $0.59 dividend. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.97%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.

A number of analysts recently issued reports on VZ shares. Nomura raised their target price on shares of Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Bank of America raised their target price on shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Instinet raised their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, January 22nd. Finally, Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 target price on the stock in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. Verizon Communications presently has an average rating of “Hold” and a consensus target price of $54.24.

In related news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the transaction, the senior vice president now owns 16,059 shares in the company, valued at approximately $799,738.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

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Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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