KBC Group NV Has $231.50 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

KBC Group NV boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 279.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,103,677 shares of the cell phone carrier's stock after purchasing an additional 3,758,238 shares during the period. Verizon Communications accounts for about 0.7% of KBC Group NV's investment portfolio, making the stock its 20th biggest holding. KBC Group NV owned 0.12% of Verizon Communications worth $231,503,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of VZ. Bernard Wealth Management Corp. raised its stake in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares during the period. Cherry Tree Wealth Management LLC raised its stake in Verizon Communications by 71.8% in the first 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 during the period. Garde Capital Inc. bought a new position in shares of Verizon Communications during the first quarter worth approximately $26,000. Mainstream Capital Management LLC bought a new position in shares of Verizon Communications during the fourth quarter worth approximately $28,000. Finally, Mattson Financial Services LLC increased its stake in shares of Verizon Communications by 114.6% during the fourth 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 during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Up 0.5%

Shares of NYSE:VZ opened at $42.32 on Friday. The business's 50 day simple moving average is $43.15 and its 200 day simple moving average is $42.21. The company has a market capitalization of $178.41 billion, a P/E ratio of 10.08, a P/E/G ratio of 3.14 and a beta of 0.38. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.61 and a quick ratio of 0.58.

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, beating analysts' consensus estimates of $1.15 by $0.04. The firm had revenue of $33.50 billion for the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. On average, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Thursday, July 10th. Verizon Communications's dividend payout ratio is presently 64.52%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 5,000 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total transaction of $212,400.00. Following the sale, the chief executive officer now owns 36,508 shares of the company's stock, valued at $1,550,859.84. This trade represents a 12.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on VZ shares. Wolfe Research lowered Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Scotiabank increased their target price on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 23rd. Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Wall Street Zen lowered Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Tigress Financial increased their target price on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Nine research 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, Verizon Communications currently has an average rating of "Moderate Buy" and an average target price of $47.41.

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.