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

EntryPoint Capital LLC cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 39.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,299 shares of the cell phone carrier’s stock after selling 4,694 shares during the quarter. EntryPoint Capital LLC’s holdings in Verizon Communications were worth $292,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in VZ. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth $28,000. Legend Financial Advisors Inc. grew its holdings in shares of Verizon Communications by 69.6% during the 4th 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 period. Compass Financial Services Inc purchased a new stake in Verizon Communications during the fourth quarter worth approximately $33,000. Hager Investment Management Services LLC acquired a new stake in Verizon Communications in the 4th quarter valued at $38,000. Finally, Cedar Mountain Advisors LLC grew its stake in shares of Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

Shares of VZ stock opened at $44.99 on Friday. The firm has a market cap of $189.38 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. 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 50-day moving average price of $41.98 and a 200 day moving average price of $42.07.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS 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 quarter last year, the firm posted $1.08 EPS. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

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 paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s payout ratio is presently 65.46%.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 11,085 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications 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 completion of the sale, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,085 shares of company stock worth $2,020,895 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Scotiabank lifted their price target on shares of Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 target price (up from $42.00) on shares of Verizon Communications in a report on Tuesday. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective on the stock. Finally, Argus raised Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

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).