Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Milestone Asset Management LLC

Milestone Asset Management LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 56.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,517 shares of the cell phone carrier's stock after buying an additional 22,988 shares during the period. Milestone Asset Management LLC's holdings in Verizon Communications were worth $2,540,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VZ. Capital Performance Advisors LLP purchased a new stake in Verizon Communications in the third quarter worth approximately $31,000. Legend Financial Advisors Inc. increased 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 worth $31,000 after buying an additional 320 shares in the last quarter. Accordant Advisory Group Inc increased its holdings in Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier's stock worth $35,000 after buying an additional 450 shares in the last quarter. Cedar Mountain Advisors LLC increased its holdings in Verizon Communications by 655.5% in the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier's stock worth $39,000 after buying an additional 839 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in Verizon Communications in the 3rd quarter worth about $44,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Down 1.6 %

VZ traded down $0.65 during trading hours on Thursday, reaching $39.63. 16,184,072 shares of the company's stock traded hands, compared to its average volume of 24,977,279. The firm has a 50-day moving average price of $40.75 and a 200 day moving average price of $41.60. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $45.36. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $166.83 billion, a PE ratio of 17.08, a PEG ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. During the same period in the previous year, the firm earned $1.08 earnings per share. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications's dividend payout ratio (DPR) is currently 116.81%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group raised their target price on Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. DZ Bank raised Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Wednesday. Scotiabank raised their target price on Verizon Communications from $47.00 to $47.50 and gave the stock a "sector perform" rating in a research report on Monday. Sanford C. Bernstein assumed coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Ten research 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 company's stock. According to data from MarketBeat.com, Verizon Communications has a consensus rating of "Moderate Buy" and an average price target of $46.08.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 20,000 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total transaction of $810,800.00. Following the transaction, the chief executive officer now directly owns 45,675 shares of the company's stock, 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 link. 0.02% of the stock is currently owned by company insiders.

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).