6,486 Shares in Verizon Communications Inc. (NYSE:VZ) Purchased by Mystic Asset Management Inc.

Mystic Asset Management Inc. purchased a new position in Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,486 shares of the cell phone carrier’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. RD Lewis Holdings Inc. bought a new stake in Verizon Communications in the fourth quarter worth about $242,000. Argent Advisors Inc. lifted its stake in Verizon Communications by 1.1% in the fourth quarter. Argent Advisors Inc. now owns 85,344 shares of the cell phone carrier’s stock worth $3,413,000 after purchasing an additional 963 shares during the last quarter. Aspen Wealth Strategies LLC lifted its stake in Verizon Communications by 4.9% in the fourth quarter. Aspen Wealth Strategies LLC now owns 13,524 shares of the cell phone carrier’s stock worth $541,000 after purchasing an additional 630 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in Verizon Communications in the fourth quarter worth about $169,000. Finally, Horizon Kinetics Asset Management LLC lifted its stake in Verizon Communications by 24.7% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 5,828 shares of the cell phone carrier’s stock worth $233,000 after purchasing an additional 1,153 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 1.3 %

Verizon Communications stock opened at $44.22 on Wednesday. The business has a fifty day moving average of $41.20 and a two-hundred day moving average of $41.97. 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 cap of $186.13 billion, a P/E ratio of 10.68, a P/E/G ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a twelve month low of $37.59 and a twelve month high of $47.36.

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 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 company earned $1.08 EPS. On average, analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s payout ratio is presently 65.46%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 45,675 shares of the company’s stock, valued at $1,851,664.50. This represents a 30.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,085 shares of company stock valued at $2,020,895. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Tigress Financial reaffirmed a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, January 29th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average price target of $46.11.

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).