Roffman Miller Associates Inc. PA Sells 1,755 Shares of Verizon Communications Inc. (NYSE:VZ)

Roffman Miller Associates Inc. PA lowered its position in Verizon Communications Inc. (NYSE:VZ) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 341,272 shares of the cell phone carrier’s stock after selling 1,755 shares during the period. Roffman Miller Associates Inc. PA’s holdings in Verizon Communications were worth $12,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Eley Financial Management Inc increased its position in shares of Verizon Communications by 2.3% during the fourth quarter. Eley Financial Management Inc now owns 20,610 shares of the cell phone carrier’s stock worth $777,000 after acquiring an additional 467 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Verizon Communications by 6.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 93,461 shares of the cell phone carrier’s stock valued at $3,523,000 after buying an additional 5,663 shares during the period. Atria Wealth Solutions Inc. increased its holdings in Verizon Communications by 2.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 508,127 shares of the cell phone carrier’s stock valued at $19,156,000 after buying an additional 10,569 shares during the period. Magnolia Capital Advisors LLC increased its holdings in Verizon Communications by 12.1% during the fourth quarter. Magnolia Capital Advisors LLC now owns 34,017 shares of the cell phone carrier’s stock valued at $1,282,000 after buying an additional 3,682 shares during the period. Finally, Wynn Capital LLC purchased a new position in Verizon Communications during the fourth quarter valued at approximately $307,000. Institutional investors own 62.06% of the company’s stock.

Insider Activity at Verizon Communications

In other Verizon Communications 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 approximately $1,436,200.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.02% of the company’s stock.

Verizon Communications Stock Performance

NYSE:VZ traded up $0.53 during mid-day trading on Friday, reaching $39.75. The stock had a trading volume of 7,090,713 shares, compared to its average volume of 20,020,980. The business has a 50 day simple moving average of $40.48 and a 200 day simple moving average of $38.46. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.65 and a current ratio of 0.71. The firm has a market capitalization of $167.12 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. The firm had revenue of $33 billion during the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm 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 dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.69%. Verizon Communications’s payout ratio is 99.25%.

Analyst Ratings Changes

Several equities analysts recently issued reports on VZ shares. Tigress Financial lifted their price objective on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, January 25th. KeyCorp lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday. Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $36.00 to $47.00 in a research note on Wednesday, January 24th. Finally, Raymond James lifted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.21.

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).