Paradigm Capital Management LLC NV Has $2.26 Million Stock Position in Verizon Communications Inc. (NYSE:VZ)

Paradigm Capital Management LLC NV increased its stake in Verizon Communications Inc. (NYSE:VZ) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,624 shares of the cell phone carrier’s stock after purchasing an additional 3,001 shares during the period. Verizon Communications makes up 2.1% of Paradigm Capital Management LLC NV’s holdings, making the stock its 13th largest position. Paradigm Capital Management LLC NV’s holdings in Verizon Communications were worth $2,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $28,000. Graney & King LLC acquired a new position in shares of Verizon Communications during the fourth quarter valued at about $32,000. Compass Financial Services Inc purchased a new position in Verizon Communications during the fourth quarter worth about $33,000. Banque Transatlantique SA bought a new stake in Verizon Communications in the fourth quarter worth about $35,000. Finally, Hager Investment Management Services LLC bought a new stake in Verizon Communications during the 4th quarter worth approximately $38,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Verizon Communications stock opened at $42.62 on Wednesday. The firm has a market capitalization of $179.70 billion, a P/E ratio of 10.29, a PEG ratio of 4.45 and a beta of 0.39. The business has a 50-day moving average of $43.71 and a 200-day moving average of $42.00. 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 1 year low of $37.59 and a 1 year high of $47.36.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. The firm had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.6775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.36%. Verizon Communications’s dividend payout ratio is 64.52%.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total value of $212,400.00. Following the transaction, the chief executive officer now directly owns 36,508 shares in the company, valued at $1,550,859.84. This represents a 12.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now 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. Insiders have sold a total of 31,500 shares of company stock valued at $1,376,300 over the last 90 days. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued 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. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, January 29th. Tigress Financial upped their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Finally, Oppenheimer raised their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.41.

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).