Nan Fung Trinity HK Ltd. Has $20.43 Million Position in Verizon Communications Inc. (NYSE:VZ)

Nan Fung Trinity HK Ltd. reduced its position in Verizon Communications Inc. (NYSE:VZ) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 510,900 shares of the cell phone carrier’s stock after selling 10,100 shares during the period. Verizon Communications accounts for approximately 4.2% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 10th largest holding. Nan Fung Trinity HK Ltd.’s holdings in Verizon Communications were worth $20,431,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Austin Private Wealth LLC boosted its holdings in shares of Verizon Communications by 3.0% in the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after acquiring an additional 243 shares during the period. Cary Street Partners Asset Management LLC lifted its holdings in Verizon Communications by 3.4% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after purchasing an additional 249 shares in the last quarter. First Personal Financial Services boosted its stake in Verizon Communications by 0.3% in the 3rd quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock worth $4,091,000 after purchasing an additional 250 shares during the period. Encompass Wealth Advisors LLC grew its holdings in Verizon Communications by 2.0% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock valued at $562,000 after buying an additional 250 shares in the last quarter. Finally, First Dallas Securities Inc. increased 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 valued at $1,425,000 after buying an additional 257 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the stock in a transaction on 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 owns 6,590 shares in the company, valued at approximately $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 39,085 shares of company stock worth $1,582,995 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on VZ shares. DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, January 29th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Royal Bank of Canada dropped their price objective on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Finally, 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. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.08.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $42.77 on Friday. The company’s fifty day moving average is $39.91 and its 200 day moving average is $41.62. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36. The stock has a market cap of $180.05 billion, a PE ratio of 10.33, a PEG ratio of 4.45 and a beta of 0.45. 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 (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 the consensus estimate 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 quarter in the prior year, the firm posted $1.08 earnings per share. Research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.6775 dividend. The ex-dividend date was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.34%. Verizon Communications’s dividend payout ratio is currently 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).