Verizon Communications Inc. (NYSE:VZ) Stock Holdings Lifted by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Verizon Communications Inc. (NYSE:VZ) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,366 shares of the cell phone carrier’s stock after purchasing an additional 1,116 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Verizon Communications were worth $1,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in Verizon Communications in the fourth quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in Verizon Communications in the third quarter valued at about $31,000. Legend Financial Advisors Inc. lifted its position in shares of Verizon Communications by 69.6% in the fourth 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 fourth quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on VZ shares. StockNews.com raised Verizon Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, January 29th. Sanford C. Bernstein started coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target for the company. Scotiabank boosted their price target on Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, UBS Group boosted their price target on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.11.

Insider Activity

In other news, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares in the company, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the company’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 value of $437,900.00. Following the completion of the sale, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,085 shares of company stock worth $2,020,895. Company insiders own 0.02% of the company’s stock.

Verizon Communications Trading Up 3.3 %

Shares of VZ opened at $44.26 on Friday. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $45.36. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $186.30 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 4.45 and a beta of 0.45. The stock’s 50-day moving average price is $40.49 and its 200 day moving average price is $41.79.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results 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 period in the prior year, the business earned $1.08 EPS. As a group, research analysts predict 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. Investors of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.12%. Verizon Communications’s dividend payout ratio is 65.46%.

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).