iA Global Asset Management Inc. Has $311,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

iA Global Asset Management Inc. lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 69.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,780 shares of the cell phone carrier’s stock after selling 17,657 shares during the quarter. iA Global Asset Management Inc.’s holdings in Verizon Communications were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in Verizon Communications in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. raised its position in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the last quarter. Compass Financial Services Inc bought a new position in Verizon Communications in the 4th quarter valued at $33,000. Hager Investment Management Services LLC bought a new position in Verizon Communications in the 4th quarter valued at $38,000. Finally, Cedar Mountain Advisors LLC raised its position in Verizon Communications by 655.5% in the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after purchasing an additional 839 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.7 %

Shares of Verizon Communications stock opened at $44.06 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The business has a fifty day simple moving average of $41.52 and a 200 day simple moving average of $42.00. The stock has a market cap of $185.46 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $1.08 earnings per share. Research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.15%. Verizon Communications’s payout ratio is 65.46%.

Analyst Ratings Changes

Several brokerages have issued reports on VZ. StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. DZ Bank upgraded 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. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Sanford C. Bernstein initiated coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $46.53.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the completion of the transaction, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,085 shares of company stock valued at $2,020,895. Company insiders own 0.02% of the company’s stock.

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).