Verizon Communications Inc. (NYSE:VZ) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,330 shares of the cell phone carrier's stock after selling 24,650 shares during the quarter. Verizon Communications makes up about 1.2% of New England Asset Management Inc.'s portfolio, making the stock its 19th biggest holding. New England Asset Management Inc.'s holdings in Verizon Communications were worth $7,211,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of VZ. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications in the 4th quarter worth $28,000. Graney & King LLC purchased a new position in Verizon Communications during the fourth quarter worth about $32,000. Compass Financial Services Inc purchased a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $33,000. Banque Transatlantique SA purchased a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $35,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 5,000 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total value of $212,400.00. Following the transaction, the chief executive officer now owns 36,508 shares in the company, valued at $1,550,859.84. The trade was a 12.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction that occurred on 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. Over the last quarter, insiders sold 31,500 shares of company stock worth $1,376,300. 0.10% of the stock is owned by insiders.

Verizon Communications Stock Up 1.0%

Shares of VZ traded up $0.44 during mid-day trading on Friday, reaching $43.92. The company's stock had a trading volume of 8,403,881 shares, compared to its average volume of 24,198,822. The company's 50 day moving average is $43.57 and its 200 day moving average is $42.01. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock has a market cap of $185.17 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39.

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 for the quarter, beating 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 firm had revenue of $33.50 billion during the quarter, compared to analysts' expectations of $33.31 billion. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.17%. The ex-dividend date was Thursday, April 10th. Verizon Communications's dividend payout ratio (DPR) is 64.52%.

Analysts Set New Price Targets

A number of research firms have commented on VZ. Deutsche Bank Aktiengesellschaft upped their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Royal Bank of Canada reissued 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. Argus upgraded shares of Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. StockNews.com lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Evercore ISI upgraded shares of Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target for the company in a research note on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.41.

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).