1,455,511 Shares in Verizon Communications Inc. (NYSE:VZ) Purchased by Twinbeech Capital LP

Twinbeech Capital LP bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,455,511 shares of the cell phone carrier's stock, valued at approximately $58,206,000. Verizon Communications makes up about 1.0% of Twinbeech Capital LP's holdings, making the stock its 23rd biggest holding.

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

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 5,000 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $42.48, for a total value of $212,400.00. Following the completion of the sale, the chief executive officer now directly owns 36,508 shares in the company, valued at $1,550,859.84. This trade represents a 12.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,500 shares of company stock valued at $1,376,300. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on VZ. 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 research note on Tuesday, March 25th. Scotiabank lifted their price objective on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. StockNews.com lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. DZ Bank upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Wednesday, January 29th. Finally, Oppenheimer lifted their price target on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating, eight have given 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 price target of $47.41.

Verizon Communications Price Performance

VZ opened at $43.97 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock's 50 day simple moving average is $43.58 and its 200 day simple moving average is $42.04. The firm has a market cap of $185.40 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 4.45 and a beta of 0.39. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. The firm had revenue of $33.50 billion for the quarter, compared to analysts' expectations of $33.31 billion. As a group, analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

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

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).

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