Verizon Communications Inc. (NYSE:VZ) Shares Sold by Intrust Bank NA

Intrust Bank NA reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,457 shares of the cell phone carrier’s stock after selling 973 shares during the quarter. Intrust Bank NA’s holdings in Verizon Communications were worth $2,738,000 as of its most recent filing with the Securities and Exchange Commission.

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

Verizon Communications Trading Down 0.0 %

Shares of VZ opened at $44.96 on Friday. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The stock has a 50-day moving average price of $42.11 and a 200 day moving average price of $42.09. 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 company has a market capitalization of $189.25 billion, a P/E ratio of 10.86, a P/E/G ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its earnings results 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 firm earned $1.08 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS 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. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.03%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 8,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 6,590 shares in the company, valued at $262,809.20. This trade represents a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,085 shares of company stock valued at $2,020,895. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Tigress Financial restated a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $46.71.

Verizon Communications Company 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).