Zions Bancorporation N.A. Buys 18,427 Shares of Verizon Communications Inc. (NYSE:VZ)

Zions Bancorporation N.A. lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 279,172 shares of the cell phone carrier’s stock after buying an additional 18,427 shares during the period. Verizon Communications comprises approximately 0.7% of Zions Bancorporation N.A.’s investment portfolio, making the stock its 17th biggest position. Zions Bancorporation N.A.’s holdings in Verizon Communications were worth $11,164,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in Verizon Communications during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. increased its position in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the period. Compass Financial Services Inc bought a new position in shares of Verizon Communications during the fourth quarter valued at $33,000. Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth $38,000. Finally, Cedar Mountain Advisors LLC grew its stake in shares of 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 last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $43.59 on Tuesday. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The company has a market cap of $183.48 billion, a PE ratio of 10.53, a P/E/G ratio of 4.45 and a beta of 0.41. The stock has a 50-day moving average of $41.63 and a 200-day moving average of $42.02. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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. On average, equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.22%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Sanford C. Bernstein started coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price objective for the company. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Royal Bank of Canada decreased their target price on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Finally, UBS Group raised their price target 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. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.53.

Insiders Place Their Bets

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the business’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 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 approximately $633,159.61. The trade was a 40.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,085 shares of company stock worth $2,020,895. Insiders own 0.02% of the company’s stock.

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).