Verizon Communications Inc. (NYSE:VZ) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 5.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,093 shares of the cell phone carrier’s stock after selling 1,673 shares during the quarter. Cannell & Spears LLC’s holdings in Verizon Communications were worth $1,243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of VZ. Kirtland Hills Capital Management LLC grew its stake in Verizon Communications by 2.4% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock worth $439,000 after buying an additional 252 shares during the last quarter. First Dallas Securities Inc. grew its position in shares of Verizon Communications by 0.8% during the third quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock worth $1,425,000 after acquiring an additional 257 shares during the last quarter. JB Capital LLC increased its holdings in shares of Verizon Communications by 1.3% in the 4th quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock worth $832,000 after acquiring an additional 258 shares during the period. Curbstone Financial Management Corp lifted its position in Verizon Communications by 0.8% in the 4th quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock valued at $1,391,000 after purchasing an additional 262 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in Verizon Communications by 9.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier’s stock valued at $117,000 after purchasing an additional 263 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kyle Malady sold 8,000 shares of the firm’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 sale, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock valued at $2,020,895 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Verizon Communications Trading Up 1.0 %

Verizon Communications stock opened at $45.40 on Tuesday. The firm has a market cap of $191.10 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The firm’s 50 day moving average price is $42.24 and its two-hundred day moving average price is $42.08. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last issued 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 return on equity of 19.80% and a net margin of 12.99%. During the same period last year, the firm earned $1.08 earnings per share. On average, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 5.97%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s payout ratio is 65.46%.

Wall Street Analyst Weigh In

VZ has been the topic of several analyst reports. Scotiabank raised their price target on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research note on Monday, March 3rd. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Tigress Financial reiterated a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.71.

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).