KLCM Advisors Inc. Lowers Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

KLCM Advisors Inc. decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 385,045 shares of the cell phone carrier's stock after selling 9,373 shares during the quarter. Verizon Communications comprises 1.8% of KLCM Advisors Inc.'s holdings, making the stock its 17th largest position. KLCM Advisors Inc.'s holdings in Verizon Communications were worth $15,398,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications in the 3rd quarter valued at approximately $31,000. Legend Financial Advisors Inc. grew its position in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after acquiring an additional 320 shares during the period. Compass Financial Services Inc acquired a new stake in Verizon Communications during the fourth quarter worth $33,000. Accordant Advisory Group Inc raised its position in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier's stock valued at $35,000 after purchasing an additional 450 shares during the period. Finally, Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Insider Activity

In other news, CEO Kyle Malady sold 11,085 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the sale, the chief executive officer now owns 14,590 shares in the company, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 39,085 shares of company stock worth $1,582,995. 0.02% of the stock is currently owned by insiders.

Verizon Communications Stock Up 1.1 %

Verizon Communications stock traded up $0.48 during trading on Thursday, reaching $42.49. The stock had a trading volume of 19,757,659 shares, compared to its average volume of 23,033,547. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $45.36. The stock has a market cap of $178.85 billion, a PE ratio of 10.26, a P/E/G ratio of 4.31 and a beta of 0.45. The business has a 50 day moving average price of $39.89 and a 200 day moving average price of $41.58.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.6775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.38%. Verizon Communications's dividend payout ratio is currently 65.46%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Wolfe Research lifted their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Tigress Financial restated a "buy" rating and issued a $55.00 price objective on shares of Verizon Communications in a report on Thursday, January 30th. UBS Group lifted their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, December 20th. Finally, Argus raised Verizon Communications to a "strong-buy" rating in a research report on Monday, January 27th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $46.08.

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).