Verizon Communications Inc. (NYSE:VZ) Shares Sold by Aljian Capital Management LLC

Aljian Capital Management LLC lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,583 shares of the cell phone carrier’s stock after selling 1,400 shares during the period. Aljian Capital Management LLC’s holdings in Verizon Communications were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications during the 3rd quarter worth $31,000. Accordant Advisory Group Inc raised its holdings in shares of Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the last quarter. Legend Financial Advisors Inc. raised its stake in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Verizon Communications during the fourth quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $38,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Trading Up 0.1 %

Shares of NYSE VZ opened at $40.52 on Thursday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $45.36. The business has a fifty day simple moving average of $39.99 and a 200-day simple moving average of $41.56. 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 company has a market cap of $170.57 billion, a price-to-earnings ratio of 9.79, a P/E/G ratio of 4.17 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data 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 net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the business posted $1.08 earnings per share. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend was Friday, January 10th. Verizon Communications’s payout ratio is presently 65.46%.

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $453,154.80. Following the transaction, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. This represents a 43.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 39,085 shares of company stock worth $1,582,995 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VZ. Deutsche Bank Aktiengesellschaft raised their price target on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Argus raised shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. 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 report on Wednesday, January 29th. Royal Bank of Canada decreased their price objective on shares of Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Finally, StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Ten equities 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 a consensus target price of $46.08.

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).