Versant Capital Management Inc Has $234,000 Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Versant Capital Management Inc trimmed its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 9.1% during the fourth quarter, Holdings Channel reports. The firm owned 6,206 shares of the cell phone carrier’s stock after selling 623 shares during the quarter. Versant Capital Management Inc’s holdings in Verizon Communications were worth $234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VZ. Moneta Group Investment Advisors LLC lifted its stake in shares of Verizon Communications by 88,532.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 79,084,569 shares of the cell phone carrier’s stock valued at $3,115,932,000 after purchasing an additional 78,995,341 shares during the period. Norges Bank acquired a new position in Verizon Communications during the 4th quarter worth approximately $1,829,675,000. Morgan Stanley raised its stake in Verizon Communications by 21.4% during the 4th quarter. Morgan Stanley now owns 67,976,459 shares of the cell phone carrier’s stock worth $2,678,273,000 after buying an additional 11,987,691 shares during the period. State Street Corp raised its stake in Verizon Communications by 4.9% during the 2nd quarter. State Street Corp now owns 175,039,883 shares of the cell phone carrier’s stock worth $6,509,733,000 after buying an additional 8,171,700 shares during the period. Finally, BlackRock Inc. raised its stake in Verizon Communications by 1.8% during the 2nd quarter. BlackRock Inc. now owns 339,007,286 shares of the cell phone carrier’s stock worth $12,607,681,000 after buying an additional 5,910,739 shares during the period. 61.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of research reports. KeyCorp upped their price target on Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Wells Fargo & Company upped their price target on Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Daiwa Capital Markets raised Verizon Communications from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $36.00 to $47.00 in a report on Wednesday, January 24th. Raymond James boosted their price objective on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Barclays boosted their price objective on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Read Our Latest Analysis on Verizon Communications

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the completion of the transaction, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.02% of the company’s stock.

Verizon Communications Stock Performance

NYSE:VZ traded down $0.28 during trading hours on Friday, reaching $39.49. The stock had a trading volume of 54,891,637 shares, compared to its average volume of 20,836,750. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. The stock has a 50 day simple moving average of $40.32 and a 200 day simple moving average of $36.98. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.21. The stock has a market cap of $166.03 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 3.06 and a beta of 0.40.

Verizon Communications (NYSE:VZGet Free Report) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The business had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same period last year, the business posted $1.19 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts forecast that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s payout ratio is currently 96.38%.

About Verizon Communications

(Free Report)

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).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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