Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Summitry LLC

Summitry LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,559 shares of the cell phone carrier's stock after acquiring an additional 13,278 shares during the quarter. Summitry LLC's holdings in Verizon Communications were worth $4,901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in Verizon Communications during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. grew its stake in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock valued at $31,000 after buying an additional 320 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Verizon Communications in the fourth quarter worth approximately $33,000. Hager Investment Management Services LLC bought a new stake in shares of Verizon Communications during the 4th quarter worth approximately $38,000. Finally, Cedar Mountain Advisors LLC boosted its holdings in Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier's stock valued at $39,000 after acquiring an additional 839 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 0.0 %

NYSE:VZ traded down $0.01 during midday trading on Friday, reaching $44.96. 19,526,803 shares of the stock traded hands, compared to its average volume of 19,509,713. The stock has a market capitalization of $189.25 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $47.36. 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 business has a 50-day moving average of $42.11 and a two-hundred day moving average of $42.08.

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Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data 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 period in the previous year, the business posted $1.08 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 6.03%. Verizon Communications's dividend payout ratio (DPR) is currently 65.46%.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 11,085 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the transaction, the chief executive officer now owns 14,590 shares in the company, valued at $596,439.20. This trade represents a 43.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now 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. Insiders sold 49,085 shares of company stock valued at $2,020,895 in the last three months. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on VZ shares. UBS Group increased their target price on Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, December 20th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 price target on the stock. Wolfe Research cut shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft upped 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. Finally, Tigress Financial reaffirmed a "buy" rating and set a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $46.71.

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).