Verizon Communications Inc. (NYSE:VZ) Stock Position Lowered by Invenomic Capital Management LP

Invenomic Capital Management LP trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 53.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 284,690 shares of the cell phone carrier's stock after selling 321,623 shares during the period. Invenomic Capital Management LP's holdings in Verizon Communications were worth $11,385,000 at the end of the most recent reporting period.

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

Verizon Communications Stock Performance

VZ opened at $43.65 on Friday. The stock's 50 day simple moving average is $43.74 and its 200-day simple moving average is $41.98. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a market cap of $184.04 billion, a PE ratio of 10.54, a P/E/G ratio of 4.45 and a beta of 0.39. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last announced 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. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. The company had revenue of $33.50 billion during the quarter, compared to analysts' expectations of $33.31 billion. Sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.6775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.21%. Verizon Communications's dividend payout ratio is currently 64.52%.

Insider Transactions at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now owns 14,459 shares of the company's stock, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kyle Malady sold 5,000 shares of the firm'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 of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 31,500 shares of company stock valued at $1,376,300. Corporate insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of recent research reports. Evercore ISI upgraded shares of Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price objective for the company in a report on Friday, April 11th. Royal Bank of Canada reissued a "sector perform" rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. StockNews.com cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Wednesday, January 29th. Finally, Scotiabank upped their price objective on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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).

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.