Milestone Asset Management LLC Lowers Stock Position in Verizon Communications Inc. (NYSE:VZ)

Milestone Asset Management LLC cut its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 72.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,691 shares of the cell phone carrier's stock after selling 45,826 shares during the period. Milestone Asset Management LLC's holdings in Verizon Communications were worth $802,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in Verizon Communications during the 4th quarter valued at about $28,000. Mattson Financial Services LLC lifted its holdings in Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock valued at $31,000 after buying an additional 415 shares in the last quarter. Graney & King LLC bought a new stake in Verizon Communications during the 4th quarter valued at about $32,000. Capital A Wealth Management LLC bought a new stake in Verizon Communications during the 4th quarter valued at about $32,000. Finally, Compass Financial Services Inc bought a new stake in Verizon Communications during the 4th quarter valued at about $33,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

NYSE VZ traded down $0.24 during mid-day trading on Tuesday, reaching $43.87. 13,134,591 shares of the stock were exchanged, compared to its average volume of 20,037,029. The business's 50 day moving average is $43.57 and its 200-day moving average is $42.24. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The company has a market capitalization of $184.95 billion, a P/E ratio of 10.60, a P/E/G 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 (NYSE:VZ - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The business had revenue of $33.50 billion during the quarter, compared to analysts' expectations of $33.31 billion. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VZ shares. Wall Street Zen lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Tigress Financial boosted their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a report on Monday, April 28th. Wolfe Research lowered shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a report on Wednesday, March 12th. Oppenheimer boosted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Nine investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.41.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 9,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the sale, the chief executive officer now directly owns 10,008 shares in the company, valued at approximately $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 21,500 shares of company stock worth $938,400. Insiders own 0.10% of the company's stock.

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).