DORCHESTER WEALTH MANAGEMENT Co Lowers Holdings in Verizon Communications Inc. (NYSE:VZ)

DORCHESTER WEALTH MANAGEMENT Co trimmed its position in Verizon Communications Inc. (NYSE:VZFree Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,418 shares of the cell phone carrier’s stock after selling 1,223 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Verizon Communications were worth $1,675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA boosted its position in shares of Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 565 shares in the last quarter. CGC Financial Services LLC purchased a new stake in shares of Verizon Communications during the 2nd quarter worth $32,000. HBC Financial Services PLLC boosted its position in shares of Verizon Communications by 320.0% during the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after purchasing an additional 800 shares in the last quarter. RVW Wealth LLC purchased a new stake in shares of Verizon Communications during the 3rd quarter worth $36,000. Finally, Financial Management Professionals Inc. boosted its position in shares of Verizon Communications by 58.4% during the 4th quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock worth $41,000 after purchasing an additional 404 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VZ has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Citigroup lifted their price target on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research note on Wednesday. Barclays lifted their price target on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Finally, UBS Group boosted their target price on shares of Verizon Communications from $37.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

View Our Latest Stock Analysis on Verizon Communications

Verizon Communications Stock Up 0.5 %

Verizon Communications stock traded up $0.22 during mid-day trading on Wednesday, hitting $42.76. The company’s stock had a trading volume of 4,886,038 shares, compared to its average volume of 19,968,365. The company has a market cap of $179.77 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 3.43 and a beta of 0.41. The firm’s 50 day moving average is $40.74 and its 200 day moving average is $37.60. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.21. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65.

Verizon Communications (NYSE:VZGet Free Report) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The firm had revenue of $35.10 billion during the quarter, compared to analyst estimates of $34.60 billion. During the same period in the previous year, the company earned $1.19 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.665 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.22%. Verizon Communications’s payout ratio is 96.38%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.03% of the company’s stock.

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).

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

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