Perbak Capital Partners LLP Has $2.34 Million Position in Verizon Communications Inc. (NYSE:VZ)

Perbak Capital Partners LLP lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 13.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,603 shares of the cell phone carrier's stock after selling 9,254 shares during the quarter. Verizon Communications comprises about 1.3% of Perbak Capital Partners LLP's holdings, making the stock its 17th biggest holding. Perbak Capital Partners LLP's holdings in Verizon Communications were worth $2,344,000 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. Mainstream Capital Management LLC purchased a new position in shares of Verizon Communications in the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. lifted its holdings in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier's stock worth $31,000 after purchasing an additional 320 shares during the period. Graney & King LLC acquired a new position in Verizon Communications in the 4th quarter valued at $32,000. Compass Financial Services Inc acquired a new position in Verizon Communications in the 4th quarter valued at $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VZ. Deutsche Bank Aktiengesellschaft upped their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Oppenheimer raised their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Argus raised shares of Verizon Communications to a "strong-buy" rating in a research note on Monday, January 27th. Royal Bank of Canada reissued a "sector perform" rating and set a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Finally, Tigress Financial upped their target price on Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research note on Monday. Nine 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $47.41.

Insider Transactions at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm'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 completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kyle Malady sold 5,000 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $42.48, for a total value of $212,400.00. Following the completion of the sale, the chief executive officer now owns 36,508 shares in the company, valued at $1,550,859.84. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,000 shares of company stock worth $969,340. Company insiders own 0.10% of the company's stock.

Verizon Communications Stock Performance

Shares of NYSE VZ traded up $1.12 during mid-day trading on Wednesday, hitting $44.07. The company had a trading volume of 29,545,042 shares, compared to its average volume of 20,159,775. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. 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 $189.06 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 4.45 and a beta of 0.41. The firm's 50 day simple moving average is $43.68 and its two-hundred day simple moving average is $41.97.

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

Verizon Communications Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications's dividend payout ratio is 64.52%.

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).