Verizon Communications Inc. (NYSE:VZ) Position Boosted by WBI Investments LLC

WBI Investments LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,179 shares of the cell phone carrier’s stock after acquiring an additional 5,603 shares during the period. Verizon Communications accounts for 0.8% of WBI Investments LLC’s investment portfolio, making the stock its 28th biggest holding. WBI Investments LLC’s holdings in Verizon Communications were worth $3,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in Verizon Communications during the 4th quarter worth about $28,000. Graney & King LLC bought a new position in Verizon Communications in the 4th quarter worth approximately $32,000. Compass Financial Services Inc bought a new position in Verizon Communications in the 4th quarter valued at $33,000. Banque Transatlantique SA acquired a new stake in shares of Verizon Communications in the 4th quarter valued at $35,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Verizon Communications during the fourth quarter worth $38,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 1.1%

VZ opened at $43.97 on Monday. The company has a market cap of $185.40 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39. The company has a fifty day moving average price of $43.58 and a two-hundred day moving average price of $42.04. 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 announced its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $33.50 billion for the quarter, compared to analysts’ expectations of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.6775 per share. The ex-dividend date was Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.16%. Verizon Communications’s payout ratio is presently 64.52%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VZ shares. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, January 29th. Wolfe Research cut shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, March 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Finally, StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.41.

Insider Transactions at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kyle Malady sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the sale, the chief executive officer now directly owns 10,008 shares of the company’s stock, valued at approximately $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock valued at $1,376,300 in the last quarter. Insiders own 0.10% of the company’s stock.

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).