J. Safra Sarasin Holding AG Sells 18,384 Shares of Verizon Communications Inc. (NYSE:VZ)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Verizon Communications by 16.5%, selling 18,384 shares and holding a total of 92,904 shares worth approximately $4.2 million as of its latest SEC filing.
• CEO Kyle Malady sold 9,000 shares of Verizon stock, representing a 47.35% decrease in his position, with the shares sold at an average price of $44.10.
• Verizon recently announced a quarterly dividend of $0.6775 per share, yielding 6.3%, with its dividend payout ratio standing at 63.17%.

J. Safra Sarasin Holding AG trimmed its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 16.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 92,904 shares of the cell phone carrier's stock after selling 18,384 shares during the period. J. Safra Sarasin Holding AG's holdings in Verizon Communications were worth $4,214,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VZ. Bernard Wealth Management Corp. grew its position in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after acquiring an additional 243 shares during the period. Cherry Tree Wealth Management LLC lifted its stake in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the 1st quarter worth approximately $26,000. Mattson Financial Services LLC lifted its stake in Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after purchasing an additional 415 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in Verizon Communications in the 4th quarter worth approximately $32,000. 62.06% of the stock is owned by institutional investors.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the transaction, the chief executive officer directly owned 10,008 shares of the company's stock, valued at $441,352.80. This trade represents a 47.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VZ has been the topic of several recent analyst reports. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Bank of America increased their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Morgan Stanley increased their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.35.

Verizon Communications Trading Up 0.2%

NYSE:VZ opened at $42.84 on Friday. The company has a 50-day moving average price of $42.75 and a 200-day moving average price of $42.69. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The stock has a market cap of $180.63 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 3.31 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion during the quarter, compared to analysts' expectations of $33.47 billion. During the same period last year, the company posted $1.15 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is 63.17%.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.