Verizon Communications Inc. (NYSE:VZ) Shares Sold by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 74,181 shares of the cell phone carrier’s stock after selling 4,228 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Verizon Communications were worth $2,966,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in Verizon Communications during the 4th quarter worth $11,350,000. Kendall Capital Management lifted its holdings in shares of Verizon Communications by 12.1% in the fourth quarter. Kendall Capital Management now owns 5,099 shares of the cell phone carrier’s stock valued at $204,000 after buying an additional 549 shares during the period. Axis Wealth Partners LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at $1,200,000. Personal CFO Solutions LLC lifted its holdings in shares of Verizon Communications by 1.3% in the fourth quarter. Personal CFO Solutions LLC now owns 75,183 shares of the cell phone carrier’s stock valued at $3,007,000 after buying an additional 941 shares during the period. Finally, Amundi lifted its holdings in shares of Verizon Communications by 32.3% in the fourth quarter. Amundi now owns 25,227,069 shares of the cell phone carrier’s stock valued at $983,445,000 after buying an additional 6,153,408 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 4.3 %

NYSE:VZ opened at $46.13 on Friday. The firm has a market capitalization of $194.20 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $46.20. 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 business’s fifty day moving average price is $40.61 and its 200 day moving average price is $41.83.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate 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 business earned $1.08 earnings per share. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s payout ratio is currently 65.46%.

Analyst Ratings Changes

Several analysts have recently weighed in on VZ shares. UBS Group upped their price objective on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Argus upgraded Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Tigress Financial reaffirmed a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a report on Thursday, January 30th. Finally, Royal Bank of Canada reduced their target price on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.11.

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares of the company’s stock, valued at approximately $262,809.20. This represents a 54.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock valued at $2,020,895 in the last three months. Insiders own 0.02% of the company’s stock.

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).