Navellier & Associates Inc. Buys 6,756 Shares of Verizon Communications Inc. (NYSE:VZ)

Navellier & Associates Inc. increased its stake in Verizon Communications Inc. (NYSE:VZ) by 28.6% in 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 30,344 shares of the cell phone carrier’s stock after buying an additional 6,756 shares during the period. Navellier & Associates Inc.’s holdings in Verizon Communications were worth $1,213,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Verizon Communications in the third quarter worth about $31,000. Legend Financial Advisors Inc. grew its holdings in Verizon Communications by 69.6% in 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 period. Compass Financial Services Inc purchased a new stake in Verizon Communications in the fourth quarter worth about $33,000. Hager Investment Management Services LLC purchased a new stake in Verizon Communications in the fourth quarter worth about $38,000. Finally, Cedar Mountain Advisors LLC grew its holdings in Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after purchasing an additional 839 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Up 0.7 %

Shares of VZ stock opened at $42.77 on Friday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. 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 firm’s 50 day moving average is $39.91 and its 200 day moving average is $41.62. The stock has a market capitalization of $180.05 billion, a P/E ratio of 10.33, a P/E/G ratio of 4.45 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last issued its earnings results 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 return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.6775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.34%. Verizon Communications’s payout ratio is presently 65.46%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 39,085 shares of company stock worth $1,582,995. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VZ shares. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft upped 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. Scotiabank upped their price objective on shares of Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Finally, Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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).