Dimensional Fund Advisors LP Has $1.47 Billion Holdings in Verizon Communications Inc. (NYSE:VZ)

Dimensional Fund Advisors LP lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,851,192 shares of the cell phone carrier's stock after buying an additional 990,775 shares during the period. Verizon Communications comprises 0.4% of Dimensional Fund Advisors LP's investment portfolio, making the stock its 24th biggest holding. Dimensional Fund Advisors LP owned approximately 0.88% of Verizon Communications worth $1,473,557,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VZ. Elevatus Welath Management raised its holdings in Verizon Communications by 8.7% during the fourth quarter. Elevatus Welath Management now owns 6,592 shares of the cell phone carrier's stock worth $264,000 after purchasing an additional 525 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Verizon Communications by 11.6% during the 4th quarter. First Trust Advisors LP now owns 12,597,863 shares of the cell phone carrier's stock worth $503,789,000 after buying an additional 1,312,761 shares during the last quarter. Forum Financial Management LP boosted its position in shares of Verizon Communications by 51.8% in the 4th quarter. Forum Financial Management LP now owns 74,476 shares of the cell phone carrier's stock worth $2,978,000 after buying an additional 25,430 shares in the last quarter. Front Street Capital Management Inc. grew its stake in Verizon Communications by 60.8% in the 4th quarter. Front Street Capital Management Inc. now owns 7,891 shares of the cell phone carrier's stock valued at $316,000 after acquiring an additional 2,984 shares during the last quarter. Finally, Generation Capital Management LLC purchased a new position in Verizon Communications during the 4th quarter valued at about $729,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Down 1.9 %

Shares of VZ traded down $0.82 during midday trading on Wednesday, hitting $42.37. The stock had a trading volume of 15,146,328 shares, compared to its average volume of 20,091,821. Verizon Communications Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $47.36. The business has a 50-day simple moving average of $43.56 and a two-hundred day simple moving average of $41.99. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The firm has a market cap of $178.37 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $33.50 billion for 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%. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.40%. The ex-dividend date is Thursday, April 10th. Verizon Communications's payout ratio is currently 65.46%.

Insider Transactions at Verizon Communications

In related news, 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 of the company's stock, valued at approximately $633,159.61. This trade represents a 40.88 % 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. Also, CEO Kyle Malady sold 20,000 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following 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 disclosure for this sale can be found here. Insiders sold 49,085 shares of company stock valued at $2,020,895 in the last three months. Corporate insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

VZ has been the topic of several research reports. StockNews.com lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. TD Cowen raised Verizon Communications to a "strong-buy" rating in a research report on Wednesday, January 15th. Argus raised shares of Verizon Communications to a "strong-buy" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Finally, DZ Bank raised shares of 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. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.94.

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).