Woodstock Corp Sells 385 Shares of Verizon Communications Inc. (NYSE:VZ)

Woodstock Corp trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 0.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,305 shares of the cell phone carrier’s stock after selling 385 shares during the quarter. Woodstock Corp’s holdings in Verizon Communications were worth $2,282,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at about $28,000. Mattson Financial Services LLC raised 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 worth $31,000 after purchasing an additional 415 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in Verizon Communications during the 4th quarter worth about $32,000. Graney & King LLC bought a new stake in Verizon Communications during the 4th quarter worth about $32,000. Finally, Compass Financial Services Inc bought a new stake in Verizon Communications during the 4th quarter worth about $33,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Price Performance

Verizon Communications stock opened at $43.92 on Friday. The firm has a market capitalization of $185.18 billion, a P/E ratio of 10.61, a PEG ratio of 4.45 and a beta of 0.39. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The business has a 50-day moving average of $43.57 and a 200-day moving average of $42.22. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. The business had revenue of $33.50 billion during the quarter, compared to analyst estimates of $33.31 billion. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total value of $329,100.00. Following the completion of the transaction, the chief executive officer now directly owns 19,008 shares in the company, valued at approximately $834,071.04. The trade was a 28.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 21,500 shares of company stock worth $938,400. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Scotiabank boosted their price objective on Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Tigress Financial boosted their price objective on Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Finally, Oppenheimer boosted their price objective on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.41.

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).