B. Riley Wealth Advisors Inc. Has $6.58 Million Stake in Verizon Communications Inc. (NYSE:VZ)

B. Riley Wealth Advisors Inc. decreased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,545 shares of the cell phone carrier's stock after selling 34,182 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Verizon Communications were worth $6,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Mainstream Capital Management LLC purchased a new position in Verizon Communications during the fourth quarter worth $28,000. Graney & King LLC acquired a new position in shares of Verizon Communications in the fourth quarter worth about $32,000. Compass Financial Services Inc acquired a new position in shares of Verizon Communications in the fourth quarter worth about $33,000. Banque Transatlantique SA bought a new stake in Verizon Communications in the fourth quarter valued at about $35,000. Finally, Hager Investment Management Services LLC bought a new stake in Verizon Communications in the fourth quarter valued at about $38,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Up 0.4%

Shares of Verizon Communications stock traded up $0.18 during trading on Tuesday, hitting $43.50. 12,862,291 shares of the stock traded hands, compared to its average volume of 20,187,579. The stock has a market cap of $183.41 billion, a P/E ratio of 10.51, a PEG ratio of 4.45 and a beta of 0.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. Verizon Communications Inc. has a twelve month low of $37.59 and a twelve month high of $47.36. The company has a fifty day moving average price of $43.59 and a two-hundred day moving average price of $42.15.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. The business had revenue of $33.50 billion during the quarter, compared to analysts' expectations of $33.31 billion. Equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.6775 per share. The ex-dividend date was Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.23%. Verizon Communications's dividend payout ratio (DPR) is presently 64.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen lowered Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target for the company in a research note on Friday, April 11th. DZ Bank upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Wednesday, January 29th. Finally, Wolfe Research cut Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.41.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 5,000 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total value of $212,400.00. Following the completion of the transaction, the chief executive officer now directly owns 36,508 shares in the company, valued at approximately $1,550,859.84. This represents a 12.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 21,500 shares of company stock worth $938,400 over the last three months. 0.10% of the stock is currently owned by insiders.

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).