NEOS Investment Management LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 31.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,951 shares of the cell phone carrier's stock after acquiring an additional 62,217 shares during the period. NEOS Investment Management LLC's holdings in Verizon Communications were worth $10,395,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kirtland Hills Capital Management LLC boosted its holdings in Verizon Communications by 2.4% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier's stock valued at $439,000 after purchasing an additional 252 shares during the period. First Dallas Securities Inc. lifted its stake in shares of Verizon Communications by 0.8% in the third quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier's stock valued at $1,425,000 after buying an additional 257 shares during the period. JB Capital LLC lifted its stake in shares of Verizon Communications by 1.3% in the fourth quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier's stock valued at $832,000 after buying an additional 258 shares during the period. Curbstone Financial Management Corp grew its position in Verizon Communications by 0.8% during the fourth quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier's stock worth $1,391,000 after buying an additional 262 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in Verizon Communications by 9.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier's stock valued at $117,000 after acquiring an additional 263 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, EVP Vandana Venkatesh sold 10,000 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares of the company's stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kyle Malady sold 8,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the sale, the chief executive officer now directly owns 6,590 shares of the company's stock, valued at $262,809.20. The trade was a 54.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on VZ shares. StockNews.com cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft boosted their price target 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Argus raised shares of Verizon Communications to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They set a "market perform" rating and a $48.00 price target for the company. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.71.
View Our Latest Stock Analysis on Verizon Communications
Verizon Communications Price Performance
NYSE:VZ traded down $0.01 during mid-day trading on Friday, reaching $44.96. 19,526,803 shares of the company were exchanged, compared to its average volume of 19,509,713. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The stock has a market cap of $189.25 billion, a PE ratio of 10.86, a PEG ratio of 4.45 and a beta of 0.41. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The company has a fifty day moving average of $42.11 and a 200 day moving average of $42.08.
Verizon Communications (NYSE:VZ - Get Free Report) last posted 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 period last year, the company posted $1.08 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.
Verizon Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.03%. Verizon Communications's dividend payout ratio is currently 65.46%.
About Verizon Communications
(
Free Report)
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).
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