Verizon Communications Inc. (NYSE:VZ) Stake Lowered by BDF Gestion

BDF Gestion lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 205,790 shares of the cell phone carrier's stock after selling 26,723 shares during the period. Verizon Communications accounts for approximately 0.8% of BDF Gestion's portfolio, making the stock its 24th biggest position. BDF Gestion's holdings in Verizon Communications were worth $8,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VZ. Fermata Advisors LLC lifted its position in shares of Verizon Communications by 4.5% during the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier's stock worth $253,000 after purchasing an additional 243 shares during the last quarter. Austin Private Wealth LLC grew its position in shares of Verizon Communications by 3.0% in the 3rd quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier's stock worth $379,000 after acquiring an additional 243 shares in the last quarter. Cary Street Partners Asset Management LLC increased its holdings in shares of Verizon Communications by 3.4% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier's stock valued at $343,000 after acquiring an additional 249 shares during the last quarter. Wynn Capital LLC lifted its stake in Verizon Communications by 4.4% during the third quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier's stock worth $267,000 after purchasing an additional 250 shares during the last quarter. Finally, Western Financial Corp CA increased its stake in Verizon Communications by 1.5% during the third quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier's stock valued at $786,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Price Performance

NYSE VZ traded down $0.82 on Thursday, reaching $39.47. 26,726,815 shares of the stock traded hands, compared to its average volume of 25,558,254. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $45.36. The company has a market cap of $166.13 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 3.27 and a beta of 0.46. The firm's fifty day simple moving average is $40.75 and its 200 day simple moving average is $41.60. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its 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 net margin of 7.30% and a return on equity of 20.05%. During the same period in the prior year, the firm posted $1.08 EPS. As a group, research analysts predict that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.87%. The ex-dividend date is Friday, January 10th. Verizon Communications's dividend payout ratio is presently 116.81%.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 20,000 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the sale, the chief executive officer now owns 45,675 shares in the company, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

VZ has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted 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. Wolfe Research upped their target price on Verizon Communications from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Scotiabank raised their price target on Verizon Communications from $47.00 to $47.50 and gave the stock a "sector perform" rating in a report on Monday. KeyCorp downgraded Verizon Communications from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Finally, Tigress Financial reissued a "buy" rating and set a $55.00 price target on shares of Verizon Communications in a report on Thursday. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.08.

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).