Verizon Communications Inc. (NYSE:VZ) Shares Sold by CX Institutional

CX Institutional lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 37.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,860 shares of the cell phone carrier's stock after selling 14,902 shares during the quarter. CX Institutional's holdings in Verizon Communications were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of VZ. Crescent Sterling Ltd. grew its stake in shares of Verizon Communications by 0.8% during the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after purchasing an additional 235 shares during the period. NCM Capital Management LLC grew its holdings in Verizon Communications by 1.4% in the fourth quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier's stock valued at $735,000 after purchasing an additional 245 shares during the period. Kirtland Hills Capital Management LLC boosted its holdings in Verizon Communications by 2.4% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier's stock valued at $439,000 after acquiring an additional 252 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Verizon Communications by 9.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier's stock valued at $117,000 after buying an additional 263 shares in the last quarter. Finally, Tower Wealth Partners Inc. lifted its stake in shares of Verizon Communications by 2.6% during the fourth quarter. Tower Wealth Partners Inc. now owns 10,483 shares of the cell phone carrier's stock worth $419,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Down 0.5%

Shares of NYSE:VZ traded down $0.21 during trading on Friday, hitting $42.96. The stock had a trading volume of 13,542,192 shares, compared to its average volume of 20,080,628. The firm's fifty day moving average is $43.41 and its 200 day moving average is $42.30. The company has a market capitalization of $181.11 billion, a PE ratio of 10.38, a PEG ratio of 4.45 and a beta of 0.38. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm 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 anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date is Thursday, July 10th. Verizon Communications's payout ratio is 64.52%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 7,500 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total transaction of $329,100.00. Following the sale, the chief executive officer now owns 19,008 shares of the company's stock, valued at approximately $834,071.04. This trade represents a 28.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 21,500 shares of company stock worth $938,400 over the last 90 days. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VZ shares. Tigress Financial raised their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Oppenheimer increased their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Royal Bank of Canada reissued a "sector perform" rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Wall Street Zen lowered Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Wolfe Research lowered Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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).