Bellecapital International Ltd. Buys 3,395 Shares of Verizon Communications Inc. (NYSE:VZ)

Bellecapital International Ltd. lifted its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,582 shares of the cell phone carrier’s stock after acquiring an additional 3,395 shares during the period. Bellecapital International Ltd.’s holdings in Verizon Communications were worth $1,228,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VZ. BCK Partners Inc. purchased a new stake in Verizon Communications during the first quarter valued at about $2,101,000. Axiom Financial Strategies LLC raised its position in Verizon Communications by 8.9% during the first quarter. Axiom Financial Strategies LLC now owns 5,980 shares of the cell phone carrier’s stock valued at $279,000 after purchasing an additional 487 shares in the last quarter. Ergoteles LLC raised its position in Verizon Communications by 174.0% during the first quarter. Ergoteles LLC now owns 91,776 shares of the cell phone carrier’s stock valued at $4,675,000 after purchasing an additional 58,283 shares in the last quarter. Mackenzie Financial Corp raised its position in Verizon Communications by 10.5% during the first quarter. Mackenzie Financial Corp now owns 1,194,111 shares of the cell phone carrier’s stock valued at $60,828,000 after purchasing an additional 113,032 shares in the last quarter. Finally, First Western Trust Bank purchased a new stake in Verizon Communications during the first quarter valued at about $567,000. 62.06% of the stock is owned by institutional investors.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the sale, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays raised their price target on Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Wolfe Research upgraded Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research report on Thursday, January 4th. StockNews.com downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Raymond James lifted their price objective on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $43.00 price objective on shares of Verizon Communications in a report on Tuesday, December 19th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.86.

Read Our Latest Analysis on Verizon Communications

Verizon Communications Stock Performance

Verizon Communications stock opened at $41.96 on Monday. The stock’s 50 day simple moving average is $40.68 and its two-hundred day simple moving average is $37.45. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. The stock has a market cap of $176.41 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 3.40 and a beta of 0.40. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.21.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. The business had revenue of $35.10 billion for the quarter, compared to analysts’ expectations of $34.60 billion. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. As a group, analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 annualized dividend and a yield of 6.34%. Verizon Communications’s payout ratio is 96.38%.

Verizon Communications Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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