Verizon Communications Inc. (NYSE:VZ) Shares Sold by Holderness Investments Co.

Holderness Investments Co. decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,615 shares of the cell phone carrier’s stock after selling 1,587 shares during the quarter. Holderness Investments Co.’s holdings in Verizon Communications were worth $3,264,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VZ. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth approximately $28,000. Legend Financial Advisors Inc. raised its position in Verizon Communications by 69.6% during 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 during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Verizon Communications in the 4th quarter worth $33,000. Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications in the 4th quarter worth $38,000. Finally, Cedar Mountain Advisors LLC boosted its holdings in shares of Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after acquiring an additional 839 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.7 %

Verizon Communications stock opened at $43.92 on Thursday. The stock has a market cap of $184.90 billion, a PE ratio of 10.61, a P/E/G ratio of 4.45 and a beta of 0.41. 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 50-day moving average price of $41.30 and a 200 day moving average price of $41.98. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter in the previous year, the company posted $1.08 EPS. 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 announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.17%. Verizon Communications’s payout ratio is currently 65.46%.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 11,085 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the transaction, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were 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 approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Tigress Financial reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a report on Thursday, January 30th. Argus upgraded Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada cut their price objective on Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Scotiabank boosted their target price on shares of Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday, March 3rd. Finally, DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, January 29th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $46.11.

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).