Commerzbank Aktiengesellschaft FI Has $8.14 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Commerzbank Aktiengesellschaft FI reduced its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 28.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,432 shares of the cell phone carrier's stock after selling 71,756 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Verizon Communications were worth $8,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VZ. Brighton Jones LLC raised its stake in shares of Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after purchasing an additional 16,704 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Verizon Communications by 64.4% in the 4th quarter. Proficio Capital Partners LLC now owns 11,127 shares of the cell phone carrier's stock valued at $445,000 after purchasing an additional 4,360 shares during the period. Mystic Asset Management Inc. acquired a new stake in shares of Verizon Communications in the 4th quarter valued at about $259,000. Horizon Investments LLC raised its stake in shares of Verizon Communications by 3.0% in the 4th quarter. Horizon Investments LLC now owns 88,454 shares of the cell phone carrier's stock valued at $3,475,000 after purchasing an additional 2,591 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Verizon Communications in the 4th quarter valued at about $187,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of NYSE:VZ traded down $0.29 during trading on Thursday, reaching $40.96. 18,385,820 shares of the stock were exchanged, compared to its average volume of 20,227,166. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The firm has a market cap of $172.71 billion, a PE ratio of 9.75, a PEG ratio of 3.31 and a beta of 0.37. The stock has a 50-day moving average price of $42.99 and a 200-day moving average price of $42.39. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. The company had revenue of $33.50 billion during the quarter, compared to analysts' expectations of $33.31 billion. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.62%. Verizon Communications's payout ratio is 64.52%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction that occurred 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 directly owned 10,008 shares in the company, valued at approximately $441,352.80. The trade was a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 21,500 shares of company stock valued at $938,400 in the last three months. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on VZ. Morgan Stanley began coverage on Verizon Communications in a research note on Thursday, July 10th. They issued an "equal weight" rating and a $47.00 price target on the stock. Tigress Financial raised their price objective on Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a report on Monday, April 28th. Bank of America started coverage on Verizon Communications in a report on Monday, July 7th. They issued a "neutral" rating and a $45.00 price objective for the company. Oppenheimer raised their price objective on Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Scotiabank raised their price objective on Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a report on Wednesday, April 23rd. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

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).