Freedom Together Foundation Has $283,000 Position in Verizon Communications Inc. (NYSE:VZ)

Freedom Together Foundation cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 79.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,087 shares of the cell phone carrier's stock after selling 27,000 shares during the quarter. Verizon Communications accounts for 0.0% of Freedom Together Foundation's investment portfolio, making the stock its 22nd largest position. Freedom Together Foundation's holdings in Verizon Communications were worth $283,000 as of its most recent SEC filing.

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

Verizon Communications Stock Performance

Shares of Verizon Communications stock traded down $0.38 during trading hours on Tuesday, reaching $42.62. The company's stock had a trading volume of 19,987,422 shares, compared to its average volume of 20,161,893. The company's 50 day simple moving average is $43.74 and its 200 day simple moving average is $41.99. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The stock has a market cap of $179.70 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39.

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 for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. The business had revenue of $33.50 billion for the quarter, compared to analysts' expectations of $33.31 billion. As a group, analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.6775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.36%. Verizon Communications's dividend payout ratio (DPR) is presently 64.52%.

Analyst Ratings Changes

VZ has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Tigress Financial boosted their price objective on shares of Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Oppenheimer upped their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. 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 report on Wednesday, January 29th. Nine equities research 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $47.41.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the firm's stock in a transaction dated 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 now directly owns 10,008 shares in the company, valued at $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $437,900.00. Following the completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold a total of 31,500 shares of company stock valued at $1,376,300 in the last quarter. Company insiders own 0.10% of the company's stock.

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).