Verizon Communications Inc. (NYSE:VZ) Shares Bought by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC grew its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 16.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 463,949 shares of the cell phone carrier's stock after buying an additional 67,062 shares during the period. Bridgeway Capital Management LLC's holdings in Verizon Communications were worth $18,553,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in VZ. Foundations Investment Advisors LLC increased its stake in shares of Verizon Communications by 27.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier's stock worth $8,892,000 after acquiring an additional 48,294 shares during the period. Roffman Miller Associates Inc. PA increased its position in Verizon Communications by 1.8% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 382,678 shares of the cell phone carrier's stock worth $15,303,000 after purchasing an additional 6,795 shares during the period. Burney Co. raised its stake in shares of Verizon Communications by 30.4% during the 4th quarter. Burney Co. now owns 186,621 shares of the cell phone carrier's stock worth $7,463,000 after buying an additional 43,472 shares in the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $4,333,000. Finally, Private Advisor Group LLC boosted its stake in shares of Verizon Communications by 64.6% in the fourth quarter. Private Advisor Group LLC now owns 1,394,921 shares of the cell phone carrier's stock valued at $55,783,000 after buying an additional 547,384 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Trading Down 0.4 %

Verizon Communications stock opened at $43.55 on Tuesday. The stock has a 50-day moving average price of $43.69 and a 200 day moving average price of $41.94. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36. The stock has a market cap of $183.62 billion, a PE ratio of 10.52, a P/E/G ratio of 4.45 and a beta of 0.39. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The business 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%. Equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date was Thursday, April 10th. Verizon Communications's dividend payout ratio is presently 64.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on VZ shares. Oppenheimer raised their target price on Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. TD Cowen upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Wednesday, January 15th. Argus raised shares of Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a report on Friday, January 24th. Finally, Evercore ISI upgraded Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target on the stock in a report on Friday, April 11th. Nine equities research 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.41.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $43.88, for a total transaction of $329,100.00. Following the completion of the transaction, the chief executive officer now owns 19,008 shares of the company's stock, valued at approximately $834,071.04. This represents a 28.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction on Tuesday, February 25th. The shares were 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 approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,500 shares of company stock worth $979,400 over the last quarter. 0.10% of the stock is currently owned by insiders.

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).

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