Erste Asset Management GmbH raised its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 73.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,710 shares of the cell phone carrier's stock after purchasing an additional 97,350 shares during the quarter. Erste Asset Management GmbH's holdings in Verizon Communications were worth $9,201,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of VZ. Mainstream Capital Management LLC bought a new stake in Verizon Communications in the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. increased 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 worth $31,000 after buying an additional 320 shares during the last quarter. Compass Financial Services Inc bought a new stake in Verizon Communications in the fourth quarter valued at approximately $33,000. Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $38,000. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier's stock worth $39,000 after acquiring an additional 839 shares during the period. 62.06% of the stock is currently owned by institutional investors.
NYSE:VZ opened at $43.69 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The firm's 50 day simple moving average is $40.94 and its 200 day simple moving average is $41.91. The company has a market cap of $183.91 billion, a PE ratio of 10.55, a P/E/G ratio of 4.45 and a beta of 0.41.
Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 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.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications's dividend payout ratio is presently 65.46%.
A number of research firms recently weighed in on VZ. Tigress Financial restated a "buy" rating and issued a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They set a "market perform" rating and a $48.00 target price for the company. TD Cowen upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Wednesday, January 15th. Royal Bank of Canada reduced their price target on Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Finally, Argus upgraded Verizon Communications to a "strong-buy" rating in a research note on Monday, January 27th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Verizon Communications has an average rating of "Moderate Buy" and an average price target of $46.11.
View Our Latest Stock Analysis on Verizon Communications
In other news, EVP Vandana Venkatesh sold 10,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 14,459 shares of the company's stock, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the completion of the sale, 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 sold a total of 49,085 shares of company stock worth $2,020,895 over the last three months. 0.02% of the stock is owned by company insiders.
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).
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