Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Vident Advisory LLC

Vident Advisory LLC raised its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 169.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,937 shares of the cell phone carrier's stock after acquiring an additional 117,047 shares during the quarter. Vident Advisory LLC's holdings in Verizon Communications were worth $7,436,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its holdings in Verizon Communications by 27.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier's stock valued at $8,892,000 after acquiring an additional 48,294 shares during the period. Roffman Miller Associates Inc. PA lifted its holdings in Verizon Communications by 1.8% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 382,678 shares of the cell phone carrier's stock valued at $15,303,000 after acquiring an additional 6,795 shares during the period. Global Wealth Management Investment Advisory Inc. acquired a new position in Verizon Communications in the fourth quarter valued at approximately $4,333,000. Private Advisor Group LLC lifted its holdings in Verizon Communications by 64.6% in the fourth quarter. Private Advisor Group LLC now owns 1,394,921 shares of the cell phone carrier's stock valued at $55,783,000 after acquiring an additional 547,384 shares during the period. Finally, Axis Wealth Partners LLC acquired a new position in Verizon Communications in the fourth quarter valued at approximately $1,200,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Up 0.7%

NYSE VZ opened at $44.30 on Tuesday. The business has a fifty day moving average price of $43.62 and a 200 day moving average price of $42.06. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The company has a market cap of $186.78 billion, a P/E ratio of 10.70, a P/E/G ratio of 4.45 and a beta of 0.39.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $33.31 billion. Research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date was Thursday, April 10th. Verizon Communications's dividend payout ratio (DPR) is presently 64.52%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com downgraded Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Evercore ISI upgraded Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 target price on the stock in a research report on Friday, April 11th. Scotiabank increased their target price on Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 23rd. Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Finally, Wolfe Research lowered 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.41.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 7,500 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total transaction of $329,100.00. Following the completion of the sale, the chief executive officer now directly owns 19,008 shares of the company's stock, valued at approximately $834,071.04. This trade represents a 28.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now directly owns 14,459 shares of the company's stock, valued at $633,159.61. The trade was a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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 insiders.

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).

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