Verizon Communications Inc. (NYSE:VZ) Stock Position Lowered by Moors & Cabot Inc.

Moors & Cabot Inc. cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,167 shares of the cell phone carrier’s stock after selling 9,937 shares during the period. Moors & Cabot Inc.’s holdings in Verizon Communications were worth $7,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Verizon Communications by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,694,230 shares of the cell phone carrier’s stock worth $4,346,682,000 after purchasing an additional 7,421,148 shares during the period. Geode Capital Management LLC raised its position in shares of Verizon Communications by 2.2% during the third quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock worth $4,289,054,000 after purchasing an additional 2,081,241 shares during the period. FMR LLC raised its position in shares of Verizon Communications by 2.0% during the third quarter. FMR LLC now owns 29,074,297 shares of the cell phone carrier’s stock worth $1,305,727,000 after purchasing an additional 565,842 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Verizon Communications during the fourth quarter worth $1,083,337,000. Finally, Amundi raised its position in shares of Verizon Communications by 32.3% during the fourth quarter. Amundi now owns 25,227,069 shares of the cell phone carrier’s stock worth $983,445,000 after purchasing an additional 6,153,408 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,085 shares of company stock valued at $2,020,895. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VZ shares. StockNews.com raised Verizon Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada dropped their price target on Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft upped their price target on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Finally, UBS Group upped their price target on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.11.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $43.51 on Wednesday. The business has a 50 day moving average price of $40.82 and a 200 day moving average price of $41.89. 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 company has a market cap of $183.16 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a twelve month low of $37.59 and a twelve month high of $47.36.

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

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.23%. Verizon Communications’s payout ratio is presently 65.46%.

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).