Coastline Trust Co Has $352,000 Stake in Verizon Communications Inc. (NYSE:VZ)

Coastline Trust Co trimmed its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 37.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,345 shares of the cell phone carrier’s stock after selling 5,546 shares during the period. Coastline Trust Co’s holdings in Verizon Communications were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Certified Advisory Corp raised its position in shares of Verizon Communications by 1.0% in the first quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock valued at $1,187,000 after buying an additional 233 shares in the last quarter. Pacifica Partners Inc. increased its stake in Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after acquiring an additional 255 shares during the last quarter. Selective Wealth Management Inc. increased its stake in Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after acquiring an additional 257 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock valued at $49,000 after acquiring an additional 258 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock valued at $413,000 after acquiring an additional 260 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were 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 link. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on VZ shares. Citigroup lifted their price objective on shares of Verizon Communications from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Raymond James lifted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. UBS Group boosted their target price on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company boosted their target price on shares of Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.14.

Read Our Latest Stock Report on VZ

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $42.55 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.21. The stock has a market cap of $178.89 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 3.43 and a beta of 0.41. The company’s fifty day moving average is $40.74 and its 200 day moving average is $37.60.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data 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 net margin of 8.67% and a return on equity of 20.71%. The company had revenue of $35.10 billion for the quarter, compared to analysts’ expectations of $34.60 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Verizon Communications’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts forecast that Verizon Communications Inc. will post 4.61 EPS 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 issued a $0.665 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 annualized dividend and a yield of 6.25%. Verizon Communications’s payout ratio is 96.38%.

Verizon Communications Company 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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