352,582 Shares in Verizon Communications Inc. (NYSE:VZ) Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. acquired a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 352,582 shares of the cell phone carrier's stock, valued at approximately $14,100,000.

Other large investors have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in Verizon Communications during the fourth quarter worth $28,000. Graney & King LLC bought a new position in shares of Verizon Communications in the 4th quarter worth $32,000. Compass Financial Services Inc purchased a new stake in shares of Verizon Communications during the 4th quarter worth $33,000. Banque Transatlantique SA bought a new stake in Verizon Communications during the fourth quarter valued at about $35,000. Finally, Hager Investment Management Services LLC purchased a new position in Verizon Communications in the fourth quarter valued at about $38,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

VZ traded up $0.18 during trading on Tuesday, reaching $43.50. 12,862,291 shares of the company's stock were exchanged, compared to its average volume of 20,187,579. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The company's fifty day simple moving average is $43.59 and its 200-day simple moving average is $42.15. The stock has a market capitalization of $183.41 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $33.31 billion. As a group, research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business 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. The ex-dividend date was Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.23%. Verizon Communications's dividend payout ratio is presently 64.52%.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 9,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the transaction, the chief executive officer now owns 10,008 shares of the company's stock, valued at approximately $441,352.80. This represents a 47.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 21,500 shares of company stock worth $938,400. Corporate insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on VZ. Evercore ISI raised shares of Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target for the company in a research report on Friday, April 11th. Royal Bank of Canada reissued a "sector perform" rating and set a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Argus upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Monday, January 27th. Tigress Financial upped their price target on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, Wolfe Research cut Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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).