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DeDora Capital Inc. Cuts Holdings in Verizon Communications Inc. (NYSE:VZ)

Verizon Communications logo with Computer and Technology background

DeDora Capital Inc. decreased its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 34.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,942 shares of the cell phone carrier's stock after selling 8,242 shares during the period. DeDora Capital Inc.'s holdings in Verizon Communications were worth $723,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. raised its position in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC boosted its stake in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 244 shares in the last quarter. Garde Capital Inc. acquired a new position in Verizon Communications in the first quarter valued at $26,000. Mattson Financial Services LLC increased its stake in Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. Finally, Graney & King LLC acquired a new position in Verizon Communications in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of Verizon Communications stock traded up $0.34 during trading on Tuesday, reaching $42.83. The company's stock had a trading volume of 11,096,823 shares, compared to its average volume of 20,333,131. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.61. The firm has a market cap of $180.56 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.28 and a beta of 0.37. The business's fifty day moving average price is $42.88 and its 200-day moving average price is $42.44.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The company had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.33%. The ex-dividend date is Thursday, July 10th. Verizon Communications's payout ratio is 64.52%.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the sale, the chief executive officer directly owned 10,008 shares in the company, valued at $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 21,500 shares of company stock worth $938,400. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on VZ shares. Royal Bank Of Canada upped their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. increased their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target on the stock in a report on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $47.33.

Check Out Our Latest Stock Report on VZ

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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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