University of Texas Texas AM Investment Management Co. Reduces Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

University of Texas Texas AM Investment Management Co. lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,233 shares of the cell phone carrier's stock after selling 36,231 shares during the period. Verizon Communications makes up 0.5% of University of Texas Texas AM Investment Management Co.'s holdings, making the stock its 26th biggest position. University of Texas Texas AM Investment Management Co.'s holdings in Verizon Communications were worth $4,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Mainstream Capital Management LLC purchased a new stake in Verizon Communications during the fourth quarter worth $28,000. Graney & King LLC acquired a new position in shares of Verizon Communications in the fourth quarter worth about $32,000. Compass Financial Services Inc acquired a new position in shares of Verizon Communications in the fourth quarter worth about $33,000. Banque Transatlantique SA purchased a new stake in shares of Verizon Communications during the 4th quarter worth about $35,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $38,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Down 1.5%

NYSE VZ opened at $43.10 on Friday. The business's fifty day simple moving average is $43.62 and its 200-day simple moving average is $42.10. 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 cap of $181.72 billion, a PE ratio of 10.41, a P/E/G ratio of 4.45 and a beta of 0.39. 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 released its quarterly earnings data 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. The firm had revenue of $33.50 billion during the quarter, compared to analysts' expectations of $33.31 billion. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. As a group, equities analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.6775 per share. The ex-dividend date was Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.29%. Verizon Communications's dividend payout ratio (DPR) is 64.52%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Scotiabank upped their price target on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Argus raised shares of Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. Tigress Financial increased their price objective on shares of Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a report on Monday, April 28th. Finally, DZ Bank upgraded 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 issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.41.

Insider Buying and Selling at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares of the company's stock, valued at approximately $633,159.61. The trade was a 40.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Malady sold 9,000 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the sale, the chief executive officer now owns 10,008 shares in the company, valued at $441,352.80. This represents a 47.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock worth $1,376,300 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Verizon Communications 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).

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