Verizon Communications Inc. (NYSE:VZ) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC cut its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,777,813 shares of the cell phone carrier's stock after selling 199,061 shares during the quarter. Verizon Communications comprises about 0.8% of Brandywine Global Investment Management LLC's portfolio, making the stock its 28th biggest position. Brandywine Global Investment Management LLC owned approximately 0.07% of Verizon Communications worth $111,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Verizon Communications by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 363,824,525 shares of the cell phone carrier's stock worth $14,549,343,000 after purchasing an additional 5,697,337 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Verizon Communications by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,694,230 shares of the cell phone carrier's stock valued at $4,346,682,000 after buying an additional 7,421,148 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Verizon Communications by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier's stock valued at $4,289,054,000 after acquiring an additional 2,081,241 shares during the period. Norges Bank purchased a new position in Verizon Communications in the 4th quarter worth $2,300,846,000. Finally, Raymond James Financial Inc. acquired a new stake in Verizon Communications during the 4th quarter worth about $1,083,337,000. 62.06% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In related news, CEO Kyle Malady sold 20,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the transaction, the chief executive officer now owns 45,675 shares in the company, valued at $1,851,664.50. This represents a 30.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock valued at $2,020,895 over the last three months. Company insiders own 0.02% of the company's stock.

Verizon Communications Stock Up 1.0 %

NYSE VZ traded up $0.47 on Monday, reaching $45.40. The company had a trading volume of 27,775,225 shares, compared to its average volume of 19,542,689. The firm has a market capitalization of $191.10 billion, a PE ratio of 10.97, a P/E/G ratio of 4.45 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The firm has a 50-day moving average of $42.11 and a 200-day moving average of $42.07.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period in the prior year, the company earned $1.08 earnings per share. On average, equities 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 Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a yield of 5.97%. Verizon Communications's payout ratio is currently 65.46%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VZ. Argus raised Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upped their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a report on Friday, January 24th. Sanford C. Bernstein initiated coverage on Verizon Communications in a research note on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 price objective for the company. Finally, Tigress Financial restated a "buy" rating and set a $55.00 target price on shares of Verizon Communications in a report on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.71.

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).