Haverford Trust Co Lowers Stock Position in Verizon Communications Inc. (NYSE:VZ)

Haverford Trust Co decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,413,624 shares of the cell phone carrier’s stock after selling 3,601 shares during the period. Haverford Trust Co’s holdings in Verizon Communications were worth $56,531,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Mainstream Capital Management LLC acquired a new position in Verizon Communications in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. boosted its stake in shares of Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Verizon Communications during the fourth quarter valued at about $33,000. Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at approximately $38,000. Finally, Cedar Mountain Advisors LLC raised its holdings in Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after acquiring an additional 839 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

NYSE VZ opened at $44.06 on Monday. The stock has a fifty day simple moving average of $41.52 and a 200 day simple moving average of $42.01. Verizon Communications Inc. has a twelve month low of $37.59 and a twelve month high of $47.36. The company has a market capitalization of $185.46 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 4.45 and a beta of 0.41. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $1.08 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 6.15%. Verizon Communications’s payout ratio is currently 65.46%.

Analysts Set New Price Targets

VZ has been the topic of a number of recent research reports. Sanford C. Bernstein began coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price on the stock. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Tigress Financial reissued a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, Scotiabank boosted their target price on Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research note on Monday, March 3rd. Ten 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.53.

Insiders Place Their Bets

In other news, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares of the company’s stock, valued at $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kyle Malady sold 11,085 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 of the company’s stock, valued at approximately $596,439.20. This represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,085 shares of company stock worth $2,020,895. Insiders own 0.02% of the company’s stock.

About Verizon Communications

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).