1ST Source Bank Sells 544 Shares of Verizon Communications Inc. (NYSE:VZ)

1ST Source Bank reduced its position in Verizon Communications Inc. (NYSE:VZ) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,015 shares of the cell phone carrier’s stock after selling 544 shares during the period. 1ST Source Bank’s holdings in Verizon Communications were worth $1,400,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of VZ. Kirtland Hills Capital Management LLC boosted its stake in shares of Verizon Communications by 2.4% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock worth $439,000 after acquiring an additional 252 shares during the period. First Dallas Securities Inc. lifted its holdings in Verizon Communications by 0.8% during the 3rd quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock valued at $1,425,000 after purchasing an additional 257 shares during the last quarter. JB Capital LLC boosted its position in Verizon Communications by 1.3% during the fourth quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock worth $832,000 after purchasing an additional 258 shares during the period. Curbstone Financial Management Corp increased its holdings in shares of Verizon Communications by 0.8% in the fourth quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock valued at $1,391,000 after purchasing an additional 262 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in shares of Verizon Communications by 9.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier’s stock valued at $117,000 after purchasing an additional 263 shares during the period. Institutional investors own 62.06% of the company’s stock.

Insider Activity

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares in the company, valued at approximately $1,851,664.50. The trade was a 30.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,085 shares of company stock worth $2,020,895. Corporate insiders own 0.02% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $43.67 on Monday. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The stock has a market capitalization of $183.82 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The company’s 50 day simple moving average is $41.01 and its 200 day simple moving average is $41.93.

Verizon Communications (NYSE:VZ) last issued its quarterly 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 net margin of 12.99% and a return on equity of 19.80%. During the same period in the prior year, the business posted $1.08 earnings per share. As a group, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

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 6.21%. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.

Wall Street Analyst Weigh In

VZ has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on shares of Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday. UBS Group boosted their price target on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Eleven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.11.

Verizon Communications 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).