Rempart Asset Management Inc. Boosts Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Rempart Asset Management Inc. boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 52.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 310,390 shares of the cell phone carrier's stock after acquiring an additional 107,200 shares during the period. Verizon Communications accounts for about 2.9% of Rempart Asset Management Inc.'s portfolio, making the stock its 21st biggest position. Rempart Asset Management Inc.'s holdings in Verizon Communications were worth $14,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of VZ. Mainstream Capital Management LLC bought a new position in Verizon Communications in the fourth quarter valued at approximately $28,000. Mattson Financial Services LLC raised its holdings in shares of Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after buying an additional 415 shares in the last quarter. Graney & King LLC acquired a new position in Verizon Communications during the fourth quarter worth about $32,000. Capital A Wealth Management LLC acquired a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $32,000. Finally, Compass Financial Services Inc acquired a new position in Verizon Communications during the 4th quarter worth approximately $33,000. 62.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the firm's stock in a transaction dated 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 $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 21,500 shares of company stock valued at $938,400 in the last quarter. Corporate insiders own 0.10% of the company's stock.

Verizon Communications Stock Performance

Verizon Communications stock traded up $0.17 during trading on Thursday, hitting $43.30. The stock had a trading volume of 9,959,703 shares, compared to its average volume of 20,147,661. The stock's 50 day moving average is $43.56 and its two-hundred day moving average is $42.18. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The stock has a market cap of $182.56 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth 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.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) 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 firm had revenue of $33.50 billion for the quarter, compared to the consensus estimate of $33.31 billion. As a group, analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend was Thursday, April 10th. Verizon Communications's payout ratio is 64.52%.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of recent research reports. Wall Street Zen cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Tigress Financial increased their price target on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Royal Bank of Canada reiterated 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. Scotiabank raised their price objective on Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 23rd. Finally, Wolfe Research downgraded 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Verizon Communications currently 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).