Metis Global Partners LLC Sells 5,630 Shares of Verizon Communications Inc. (NYSE:VZ)

Metis Global Partners LLC decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 212,402 shares of the cell phone carrier’s stock after selling 5,630 shares during the quarter. Metis Global Partners LLC’s holdings in Verizon Communications were worth $8,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Austin Private Wealth LLC grew its stake in 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 purchasing an additional 243 shares in the last quarter. Cary Street Partners Asset Management LLC boosted its position 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 valued at $343,000 after acquiring an additional 249 shares in the last quarter. First Personal Financial Services boosted its position in Verizon Communications by 0.3% during the 3rd quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock valued at $4,091,000 after acquiring an additional 250 shares in the last quarter. Encompass Wealth Advisors LLC boosted its position 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 acquiring an additional 250 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC boosted its position in Verizon Communications by 2.4% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after acquiring an additional 252 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE:VZ opened at $43.12 on Friday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week 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. The stock has a market capitalization of $181.50 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45. The stock’s 50-day moving average price is $40.20 and its 200-day moving average price is $41.71.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 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 period last year, the firm earned $1.08 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.29%. Verizon Communications’s payout ratio is 65.46%.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares in the company, valued at approximately $1,851,664.50. The trade was a 30.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now 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. In the last three months, insiders have sold 49,085 shares of company stock worth $2,020,895. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

VZ has been the subject of several analyst reports. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Scotiabank raised their target price on Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Royal Bank of Canada reduced their target price on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.08.

Verizon Communications Company 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).