Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Denali Advisors LLC

Denali Advisors LLC raised its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 33.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,102 shares of the cell phone carrier's stock after buying an additional 11,983 shares during the period. Denali Advisors LLC's holdings in Verizon Communications were worth $2,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Verizon Communications by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 363,824,525 shares of the cell phone carrier's stock valued at $14,549,343,000 after buying an additional 5,697,337 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Verizon Communications by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 96,823,092 shares of the cell phone carrier's stock valued at $3,862,441,000 after purchasing an additional 998,847 shares during the period. Norges Bank acquired a new stake in shares of Verizon Communications in the fourth quarter valued at about $2,300,846,000. Northern Trust Corp grew its position in shares of Verizon Communications by 12.4% in the fourth quarter. Northern Trust Corp now owns 45,043,310 shares of the cell phone carrier's stock valued at $1,801,282,000 after purchasing an additional 4,951,733 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Verizon Communications by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock valued at $1,555,351,000 after purchasing an additional 4,568,518 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Insider Activity

In other news, CEO Kyle Malady sold 9,000 shares of the company'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 transaction, the chief executive officer owned 10,008 shares in the company, valued at approximately $441,352.80. This represents a 47.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 21,500 shares of company stock valued at $938,400. Corporate insiders own 0.10% of the company's stock.

Verizon Communications Stock Down 0.4%

Shares of NYSE:VZ traded down $0.18 during trading hours on Friday, reaching $40.77. The stock had a trading volume of 20,997,542 shares, compared to its average volume of 20,259,077. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The firm's 50 day moving average is $42.88 and its 200-day moving average is $42.42. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.61. The stock has a market capitalization of $171.90 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 3.28 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. The company had revenue of $33.50 billion for the quarter, compared to the consensus estimate of $33.31 billion. Research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date of this dividend is Thursday, July 10th. Verizon Communications's dividend payout ratio is presently 64.52%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Morgan Stanley assumed coverage on shares of Verizon Communications in a research report on Thursday, July 10th. They set an "equal weight" rating and a $47.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, Bank of America assumed coverage on shares of Verizon Communications in a research report on Monday, July 7th. They set a "neutral" rating and a $45.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Verizon Communications currently has an average rating of "Moderate Buy" and an average target price of $47.00.

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).