Daymark Wealth Partners LLC Has $7.28 Million Holdings in Verizon Communications Inc. (NYSE:VZ)

Daymark Wealth Partners LLC lessened its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 37.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,565 shares of the cell phone carrier's stock after selling 95,162 shares during the quarter. Daymark Wealth Partners LLC's holdings in Verizon Communications were worth $7,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. Brighton Jones LLC grew its position in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after buying an additional 16,704 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $332,000. Capital Advisors Ltd. LLC grew its position in shares of Verizon Communications by 9.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier's stock worth $117,000 after buying an additional 263 shares during the period. IFP Advisors Inc grew its position in shares of Verizon Communications by 24.9% during the 4th quarter. IFP Advisors Inc now owns 124,152 shares of the cell phone carrier's stock worth $4,965,000 after buying an additional 24,773 shares during the period. Finally, Crestwood Advisors Group LLC grew its position in shares of Verizon Communications by 6.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 13,928 shares of the cell phone carrier's stock worth $557,000 after buying an additional 830 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 7,500 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $43.88, for a total value of $329,100.00. Following the transaction, the chief executive officer now directly owns 19,008 shares in the company, valued at $834,071.04. The trade was a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 21,500 shares of company stock worth $938,400 over the last ninety days. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on VZ shares. Evercore ISI raised shares of Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price objective on the stock in a research note on Friday, April 11th. Oppenheimer lifted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Tigress Financial lifted their price objective on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Wall Street Zen lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $47.41.

Verizon Communications Stock Performance

NYSE VZ traded up $0.22 on Friday, hitting $42.32. 21,392,124 shares of the stock were exchanged, compared to its average volume of 20,128,143. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.61 and a quick ratio of 0.58. The business's fifty day moving average is $43.15 and its 200 day moving average is $42.21. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36. The company has a market capitalization of $178.41 billion, a PE ratio of 10.08, a P/E/G ratio of 3.12 and a beta of 0.38.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. The firm had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.6775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.40%. Verizon Communications's dividend payout ratio is currently 64.52%.

Verizon Communications Company Profile

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).