Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P raised its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 949,634 shares of the cell phone carrier's stock after acquiring an additional 55,003 shares during the period. Verizon Communications makes up approximately 0.9% of Martingale Asset Management L P's investment portfolio, making the stock its 19th largest position. Martingale Asset Management L P's holdings in Verizon Communications were worth $37,976,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in VZ. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications in the 4th quarter worth $28,000. Legend Financial Advisors Inc. boosted its holdings in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock valued at $31,000 after purchasing an additional 320 shares during the last quarter. Graney & King LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $32,000. Compass Financial Services Inc acquired a new position in Verizon Communications in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Verizon Communications in the fourth quarter worth approximately $38,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the sale, the chief executive officer now owns 14,590 shares of the company's stock, valued at $596,439.20. This trade represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is currently owned by insiders.

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Verizon Communications Stock Up 1.8 %

Shares of NYSE:VZ traded up $0.76 on Friday, hitting $43.68. 30,139,449 shares of the company's stock were exchanged, compared to its average volume of 20,133,744. 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 $183.88 billion, a PE ratio of 10.55, 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 quick ratio of 0.59 and a current ratio of 0.63. The firm's 50-day moving average is $43.06 and its 200 day moving average is $42.02.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the business earned $1.08 earnings per share. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.20%. Verizon Communications's dividend payout ratio is presently 65.46%.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of research analyst reports. UBS Group increased their price target on Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, December 20th. Wolfe Research downgraded shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a report on Friday, January 24th. Oppenheimer raised their price target on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. 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, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.92.

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).