Simmons Bank Sells 2,189 Shares of Verizon Communications Inc. (NYSE:VZ)

Simmons Bank trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,629 shares of the cell phone carrier’s stock after selling 2,189 shares during the period. Simmons Bank’s holdings in Verizon Communications were worth $6,304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Verizon Communications in the 3rd quarter worth $31,000. Legend Financial Advisors Inc. raised its holdings in shares of 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 acquiring an additional 320 shares during the period. Compass Financial Services Inc acquired a new position in Verizon Communications in the 4th quarter valued at about $33,000. Hager Investment Management Services LLC acquired a new stake in Verizon Communications in the 4th quarter valued at approximately $38,000. Finally, Cedar Mountain Advisors LLC boosted its position in shares of Verizon Communications by 655.5% during the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after buying an additional 839 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.73 on Wednesday. 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 company has a market capitalization of $184.07 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45. The firm has a 50-day moving average price of $40.01 and a two-hundred day moving average price of $41.67. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $45.36.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 quarter in the previous year, the firm earned $1.08 EPS. As a group, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.6775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.20%. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of research reports. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Sanford C. Bernstein started coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. Scotiabank raised their price target on Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Finally, Tigress Financial reissued a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a research note on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and an average price target of $46.08.

Insider Activity

In related news, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were 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 of the company’s stock, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 39,085 shares of company stock worth $1,582,995 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

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).