Verizon Communications Inc. (NYSE:VZ) Shares Sold by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC reduced its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,322 shares of the cell phone carrier’s stock after selling 2,771 shares during the period. AlphaStar Capital Management LLC’s holdings in Verizon Communications were worth $1,285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. grew its position in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC grew its holdings in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications in the 1st quarter worth approximately $26,000. Mattson Financial Services LLC grew its holdings in Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 415 shares during the last quarter. Finally, Graney & King LLC acquired a new stake in Verizon Communications during the 4th quarter valued at $32,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the sale, the chief executive officer directly owned 10,008 shares of the company’s stock, valued at approximately $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is currently owned by insiders.

Verizon Communications Stock Up 0.4%

Shares of Verizon Communications stock opened at $42.98 on Tuesday. The stock has a market capitalization of $181.21 billion, a P/E ratio of 10.23, a PEG ratio of 3.23 and a beta of 0.37. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average price of $43.24 and a two-hundred day moving average price of $42.33. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $47.36.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $33.50 billion during the quarter, compared to analysts’ expectations of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. Equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.71 annualized dividend and a yield of 6.31%. Verizon Communications’s dividend payout ratio (DPR) is currently 64.52%.

Analysts Set New Price Targets

A number of research analysts have weighed in on VZ shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Scotiabank increased their price target on Verizon Communications from $48.50 to $49.00 and gave the company a “sector perform” rating in a report on Wednesday, April 23rd. Wall Street Zen downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Finally, Wolfe Research downgraded Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.25.

View Our Latest Analysis on Verizon Communications

Verizon Communications Profile

(Free Report)

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).

See Also

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

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