Virtu Financial LLC Takes $8.12 Million Position in Verizon Communications Inc. (NYSE:VZ)

Virtu Financial LLC purchased 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 purchased 203,096 shares of the cell phone carrier's stock, valued at approximately $8,122,000. Verizon Communications comprises approximately 0.4% of Virtu Financial LLC's portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mainstream Capital Management LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth approximately $28,000. Legend Financial Advisors Inc. boosted its position in 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 period. Compass Financial Services Inc bought a new position in shares of Verizon Communications during the fourth quarter valued at about $33,000. Hager Investment Management Services LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth about $38,000. Finally, Cedar Mountain Advisors LLC lifted its stake in shares of Verizon Communications by 655.5% in 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 last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the 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 sale, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction on 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 directly owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,085 shares of company stock valued at $2,020,895. Insiders own 0.02% of the company's stock.

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Analysts Set New Price Targets

Several analysts have weighed in on VZ shares. Wolfe Research downgraded Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. UBS Group upped their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, December 20th. Argus raised shares of Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Finally, 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 target price on the stock. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.71.

Verizon Communications Stock Down 0.2 %

Shares of NYSE:VZ traded down $0.10 during midday trading on Tuesday, reaching $43.46. The company's stock had a trading volume of 21,480,936 shares, compared to its average volume of 18,343,427. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average of $41.63 and a 200-day moving average of $42.02. The firm has a market capitalization of $182.95 billion, a P/E ratio of 10.50, a PEG 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.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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, research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date is Thursday, April 10th. Verizon Communications's payout ratio is 65.46%.

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).