15,719 Shares in Verizon Communications Inc. (NYSE:VZ) Acquired by Parvin Asset Management LLC

Parvin Asset Management LLC purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,719 shares of the cell phone carrier's stock, valued at approximately $629,000.

Several other hedge funds have also recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new stake in Verizon Communications in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. raised its holdings in shares of Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after buying an additional 320 shares in the last quarter. Graney & King LLC bought a new position in shares of Verizon Communications during the fourth quarter valued at $32,000. Compass Financial Services Inc acquired a new position in Verizon Communications in the fourth quarter valued at about $33,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications in the 4th quarter worth approximately $38,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Verizon Communications stock traded down $0.75 during trading hours on Thursday, hitting $43.31. The company had a trading volume of 18,904,567 shares, compared to its average volume of 20,164,438. The firm has a market cap of $185.81 billion, a PE ratio of 10.46, a PEG ratio of 4.45 and a beta of 0.41. The firm has a 50-day moving average of $43.68 and a 200 day moving average of $41.97. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. On average, sell-side 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 announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications's payout ratio is presently 64.52%.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 7,500 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total transaction of $329,100.00. Following the sale, the chief executive officer now owns 19,008 shares in the company, valued at $834,071.04. The trade was a 28.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the sale, the executive vice president now directly owns 14,459 shares in the company, 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 30,500 shares of company stock worth $1,298,440 over the last three months. Insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VZ. Royal Bank of Canada restated a "sector perform" rating and issued a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Evercore ISI upgraded shares of Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target on the stock in a research report on Friday, April 11th. Argus raised Verizon Communications to a "strong-buy" rating in a research note on Monday, January 27th. DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Wednesday, January 29th. Finally, StockNews.com cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.41.

About Verizon Communications

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).