Sciencast Management LP Takes $2.74 Million Position in Verizon Communications Inc. (NYSE:VZ)

Sciencast Management LP purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 68,389 shares of the cell phone carrier’s stock, valued at approximately $2,735,000.

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

Verizon Communications Stock Up 0.7 %

Verizon Communications stock opened at $44.06 on Friday. The firm has a market cap of $185.46 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $47.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The firm has a 50 day moving average price of $41.52 and a two-hundred day moving average price of $42.01.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $1.08 EPS. Equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Insider Activity

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

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. UBS Group raised their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Sanford C. Bernstein started coverage on Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Finally, DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, January 29th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.11.

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).