106,479 Shares in Verizon Communications Inc. (NYSE:VZ) Acquired by Griffith & Werner Inc.

Griffith & Werner Inc. acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 106,479 shares of the cell phone carrier's stock, valued at approximately $4,258,000. Verizon Communications comprises about 2.8% of Griffith & Werner Inc.'s investment portfolio, making the stock its 14th biggest position.

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

Analyst Ratings Changes

A number of equities analysts recently commented on VZ shares. DZ Bank upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a research note on Wednesday, January 29th. Scotiabank boosted their price target on Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a report on Wednesday, April 23rd. Evercore ISI upgraded shares of Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target on the stock in a research report on Friday, April 11th. Oppenheimer increased their price target on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Finally, Wolfe Research downgraded shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a report on Wednesday, March 12th. Nine 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.41.

Verizon Communications Stock Down 0.6%

Shares of Verizon Communications stock traded down $0.26 during midday trading on Wednesday, hitting $43.25. The company's stock had a trading volume of 4,921,426 shares, compared to its average volume of 20,127,508. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36. The firm has a market capitalization of $182.33 billion, a P/E ratio of 10.44, a PEG ratio of 4.45 and a beta of 0.39. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The stock has a 50-day simple moving average of $43.59 and a 200-day simple moving average of $42.16.

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 for the quarter, topping the consensus estimate of $1.15 by $0.04. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. The company had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.6775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.27%. Verizon Communications's payout ratio is 64.52%.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total transaction of $396,900.00. Following the sale, the chief executive officer now owns 10,008 shares in the company, valued at approximately $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 21,500 shares of company stock worth $938,400. Company insiders own 0.10% of the company's stock.

About Verizon Communications

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).