Mizuho Securities USA LLC Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)

Mizuho Securities USA LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 46.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 398,977 shares of the cell phone carrier's stock after purchasing an additional 126,012 shares during the quarter. Mizuho Securities USA LLC's holdings in Verizon Communications were worth $15,955,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Mainstream Capital Management LLC bought a new position in Verizon Communications in the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. lifted its position 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 worth $31,000 after acquiring an additional 320 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Verizon Communications in the fourth quarter worth $33,000. Hager Investment Management Services LLC purchased a new position in shares of Verizon Communications in the fourth quarter valued at $38,000. Finally, Cedar Mountain Advisors LLC raised its stake in shares of 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 purchasing an additional 839 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Price Performance

Shares of VZ stock traded down $0.10 during trading hours on Tuesday, hitting $43.46. 21,480,936 shares of the company's stock were exchanged, compared to its average volume of 18,343,427. The company has a market capitalization of $182.95 billion, a PE ratio of 10.50, a PEG ratio of 4.45 and a beta of 0.41. The company has a current ratio of 0.63, a quick ratio of 0.59 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 business's 50 day simple moving average is $41.63 and its 200-day simple moving average is $42.02.

Remove Ads

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the firm posted $1.08 earnings per share. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current 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 paid a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.24%. Verizon Communications's dividend payout ratio (DPR) is currently 65.46%.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a report on Friday, January 24th. TD Cowen raised shares of Verizon Communications to a "strong-buy" rating in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 target price (up from $42.00) on shares of Verizon Communications in a research note on Tuesday. StockNews.com lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, Sanford C. Bernstein initiated coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.71.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the company'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 transaction, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kyle Malady sold 8,000 shares of the firm'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 value of $319,040.00. Following the completion of the transaction, the chief executive officer now owns 6,590 shares of the company's stock, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is currently owned by insiders.

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).