Mufg Securities Americas Inc. Takes Position in Verizon Communications Inc. (NYSE:VZ)

Mufg Securities Americas Inc. acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 62,141 shares of the cell phone carrier's stock, valued at approximately $2,485,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Verizon Communications in the fourth quarter worth $2,300,846,000. Raymond James Financial Inc. bought a new position in Verizon Communications during the fourth quarter valued at $1,083,337,000. Alyeska Investment Group L.P. grew its stake in shares of Verizon Communications by 3,601.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 8,937,180 shares of the cell phone carrier's stock worth $357,398,000 after buying an additional 8,695,736 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Verizon Communications by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,694,230 shares of the cell phone carrier's stock worth $4,346,682,000 after buying an additional 7,421,148 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Verizon Communications by 52.7% during the 4th quarter. Capital Research Global Investors now owns 19,828,378 shares of the cell phone carrier's stock valued at $792,937,000 after buying an additional 6,846,514 shares in the last quarter. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of VZ traded up $0.49 during mid-day trading on Friday, reaching $43.97. The company had a trading volume of 13,389,383 shares, compared to its average volume of 20,168,938. The stock has a market capitalization of $185.40 billion, a P/E ratio of 10.62, a PEG 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. The stock has a 50 day moving average of $43.57 and a two-hundred day moving average of $42.01. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. On average, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

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. This represents a $2.71 annualized dividend and a yield of 6.16%. The ex-dividend date of this dividend was Thursday, April 10th. Verizon Communications's payout ratio is 64.52%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on VZ shares. Oppenheimer boosted 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. DZ Bank raised Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Wednesday, January 29th. Scotiabank upped their target price on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Finally, Wolfe Research cut Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.41.

Insider Transactions at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 owns 14,459 shares of the company's stock, valued at $633,159.61. This represents a 40.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kyle Malady sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total transaction of $212,400.00. Following the sale, the chief executive officer now owns 36,508 shares of the company's stock, valued at $1,550,859.84. This represents a 12.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock valued at $1,376,300 over the last ninety days. Insiders own 0.10% of the company's stock.

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).