Verizon Communications Inc. (NYSE:VZ) Shares Sold by Zacks Investment Management

Zacks Investment Management lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,959,630 shares of the cell phone carrier's stock after selling 247,394 shares during the period. Zacks Investment Management's holdings in Verizon Communications were worth $78,366,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in Verizon Communications during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. increased its holdings in Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock valued at $31,000 after purchasing an additional 320 shares during the period. Graney & King LLC bought a new position in Verizon Communications in the 4th quarter worth $32,000. Compass Financial Services Inc purchased a new position in Verizon Communications during the fourth quarter valued at $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Verizon Communications during the fourth quarter valued at $38,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, CEO Kyle Malady sold 20,000 shares of the firm'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 transaction, the chief executive officer now owns 45,675 shares of the company's stock, valued at $1,851,664.50. This represents a 30.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock worth $2,020,895 over the last 90 days. 0.02% of the stock is owned by company insiders.

Verizon Communications Price Performance

Shares of Verizon Communications stock traded up $0.40 on Friday, reaching $44.01. 16,479,869 shares of the stock were exchanged, compared to its average volume of 20,166,753. The firm's 50 day moving average is $43.39 and its 200-day moving average is $42.04. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The firm has a market cap of $185.26 billion, a PE ratio of 10.63, a P/E/G ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ - Get Free Report) last announced 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 return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the prior year, the business posted $1.08 earnings per share. As a group, analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date is Thursday, April 10th. Verizon Communications's payout ratio is 65.46%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VZ shares. Evercore ISI upgraded Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target for the company in a research note on Friday, April 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Argus raised Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. StockNews.com lowered Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Tigress Financial reaffirmed a "buy" rating and set a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Ten 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.92.

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).