Ranch Capital Advisors Inc. Sells 6,145 Shares of Verizon Communications Inc. (NYSE:VZ)

Ranch Capital Advisors Inc. reduced its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,254 shares of the cell phone carrier's stock after selling 6,145 shares during the period. Verizon Communications accounts for 1.1% of Ranch Capital Advisors Inc.'s holdings, making the stock its 25th biggest holding. Ranch Capital Advisors Inc.'s holdings in Verizon Communications were worth $2,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Verizon Communications during the fourth quarter worth about $1,083,337,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Verizon Communications by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,694,230 shares of the cell phone carrier's stock worth $4,346,682,000 after buying an additional 7,421,148 shares during the last quarter. Amundi boosted its stake in shares of Verizon Communications by 32.3% in the 4th quarter. Amundi now owns 25,227,069 shares of the cell phone carrier's stock worth $983,445,000 after buying an additional 6,153,408 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Verizon Communications in the third quarter valued at approximately $177,799,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Verizon Communications by 184.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,428,540 shares of the cell phone carrier's stock valued at $217,087,000 after acquiring an additional 3,519,258 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

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Verizon Communications Stock Up 2.6 %

Shares of NYSE:VZ traded up $1.10 during trading on Thursday, hitting $43.69. The stock had a trading volume of 30,687,575 shares, compared to its average volume of 18,311,701. 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 12 month low of $37.59 and a 12 month high of $47.36. The company has a market capitalization of $183.91 billion, a PE ratio of 10.55, a PEG ratio of 4.45 and a beta of 0.41. The firm's fifty day moving average is $40.87 and its 200 day moving average is $41.90.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly 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 19.80% and a net margin of 12.99%. During the same period in the previous year, the company posted $1.08 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank of Canada reduced their price objective on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Tigress Financial reissued a "buy" rating and set a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. Scotiabank raised their price target on shares of Verizon Communications from $47.50 to $48.00 and gave the stock a "sector perform" rating in a research note on Monday, March 3rd. Sanford C. Bernstein assumed coverage on Verizon Communications in a research note on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 price objective on the stock. Finally, DZ Bank upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Wednesday, January 29th. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.11.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 8,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was 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 owns 6,590 shares in the company, valued at approximately $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is owned by insiders.

Verizon Communications 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).