Tang Capital Management LLC Boosts Holdings in Verizon Communications Inc. (NYSE:VZ)

Tang Capital Management LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 51.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,877 shares of the cell phone carrier's stock after acquiring an additional 10,476 shares during the period. Tang Capital Management LLC's holdings in Verizon Communications were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Empirical Asset Management LLC boosted its position in Verizon Communications by 177.4% during the 4th quarter. Empirical Asset Management LLC now owns 33,544 shares of the cell phone carrier's stock valued at $1,341,000 after buying an additional 21,451 shares during the period. Boston Common Asset Management LLC boosted its position in Verizon Communications by 1.6% during the 4th quarter. Boston Common Asset Management LLC now owns 244,969 shares of the cell phone carrier's stock valued at $9,796,000 after buying an additional 3,924 shares during the period. Merit Financial Group LLC boosted its position in Verizon Communications by 27.4% during the 4th quarter. Merit Financial Group LLC now owns 105,629 shares of the cell phone carrier's stock valued at $4,224,000 after buying an additional 22,706 shares during the period. Somerset Trust Co lifted its position in shares of Verizon Communications by 2.5% in the 4th quarter. Somerset Trust Co now owns 14,848 shares of the cell phone carrier's stock worth $594,000 after purchasing an additional 359 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $47,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

VZ traded down $0.10 during midday trading on Tuesday, hitting $44.21. 12,186,592 shares of the company traded hands, compared to its average volume of 20,183,470. 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 firm has a market capitalization of $186.40 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39. The company's 50-day moving average is $43.62 and its 200 day moving average is $42.06. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data 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 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 analysts' expectations of $33.31 billion. On average, research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current 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 issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date was Thursday, April 10th. Verizon Communications's dividend payout ratio (DPR) is currently 64.52%.

Analyst Ratings Changes

Several research firms have recently commented on VZ. Tigress Financial raised their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Wolfe Research cut shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Argus raised shares of Verizon Communications to a "strong-buy" rating in a research report on Monday, January 27th. Finally, DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.41.

Insider Buying and Selling at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the transaction, the executive vice president now directly owns 14,459 shares of the company's stock, valued at approximately $633,159.61. This trade represents a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Malady sold 5,000 shares of Verizon Communications 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 transaction, the chief executive officer now directly owns 36,508 shares of the company's stock, valued at $1,550,859.84. The trade was a 12.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,500 shares of company stock valued at $1,376,300 in the last three months. 0.10% of the stock is currently owned by corporate insiders.

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).