Verizon Communications Inc. (NYSE:VZ) Shares Sold by Reaves W H & Co. Inc.

Reaves W H & Co. Inc. lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 50.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 464,366 shares of the cell phone carrier’s stock after selling 478,401 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Verizon Communications were worth $18,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in VZ. Charles Schwab Investment Management Inc. increased its stake in shares of Verizon Communications by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock valued at $4,548,163,000 after acquiring an additional 5,936,009 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Verizon Communications during the third quarter valued at approximately $177,799,000. Assenagon Asset Management S.A. grew its position in Verizon Communications by 184.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,428,540 shares of the cell phone carrier’s stock worth $217,087,000 after buying an additional 3,519,258 shares during the last quarter. Janus Henderson Group PLC grew its position in Verizon Communications by 77.1% in the third quarter. Janus Henderson Group PLC now owns 6,101,616 shares of the cell phone carrier’s stock worth $274,052,000 after buying an additional 2,656,396 shares during the last quarter. Finally, DJE Kapital AG acquired a new position in Verizon Communications in the fourth quarter worth approximately $88,078,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on VZ. Tigress Financial restated a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Wolfe Research lifted their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Finally, Royal Bank of Canada decreased their price target on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.11.

Insider Activity

In related news, CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the transaction, the chief executive officer now owns 45,675 shares in the company, valued at $1,851,664.50. This trade represents a 30.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications 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 completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is owned by corporate insiders.

Verizon Communications Trading Up 1.6 %

Shares of NYSE:VZ opened at $43.81 on Tuesday. The firm has a fifty day moving average of $40.28 and a two-hundred day moving average of $41.75. The firm has a market capitalization of $184.43 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45. Verizon Communications Inc. has a 12-month low of $37.58 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.

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 net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the business posted $1.08 EPS. On average, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

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 issued a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.19%. 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).