Sharpepoint LLC Invests $281,000 in Verizon Communications Inc. (NYSE:VZ)

Sharpepoint LLC acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,037 shares of the cell phone carrier's stock, valued at approximately $281,000.

Several other institutional investors also recently bought and sold shares of VZ. Mirabella Financial Services LLP purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $292,000. MYDA Advisors LLC raised its holdings in shares of Verizon Communications by 140.0% during the fourth quarter. MYDA Advisors LLC now owns 360,000 shares of the cell phone carrier's stock valued at $14,396,000 after acquiring an additional 210,000 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Verizon Communications by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 1,114,312 shares of the cell phone carrier's stock valued at $44,561,000 after acquiring an additional 19,620 shares in the last quarter. Norinchukin Bank The increased its position in shares of Verizon Communications by 8.5% during the fourth quarter. Norinchukin Bank The now owns 200,168 shares of the cell phone carrier's stock worth $8,005,000 after purchasing an additional 15,700 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Verizon Communications by 11.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,787,291 shares of the cell phone carrier's stock valued at $71,474,000 after purchasing an additional 180,546 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Trading Up 0.5 %

Shares of VZ traded up $0.23 during midday trading on Thursday, hitting $42.93. 8,026,337 shares of the stock were exchanged, compared to its average volume of 25,716,902. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. 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 stock has a fifty day simple moving average of $43.59 and a 200 day simple moving average of $42.00. The firm has a market cap of $180.70 billion, a P/E ratio of 10.37, a P/E/G ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. On average, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared 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 is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.31%. Verizon Communications's dividend payout ratio (DPR) is 65.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Wednesday, January 29th. Wolfe Research lowered shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. TD Cowen upgraded Verizon Communications to a "strong-buy" rating in a research report on Wednesday, January 15th. Finally, Argus upgraded Verizon Communications to a "strong-buy" rating in a research report on Monday, January 27th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $47.35.

Insider Activity at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the business'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 sale, the executive vice president now owns 14,459 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kyle Malady sold 20,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the completion of the transaction, the chief executive officer now owns 45,675 shares in the company, valued at $1,851,664.50. This represents a 30.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock valued at $2,020,895 over the last 90 days. 0.10% of the stock is owned by corporate 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).