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

Bellecapital International Ltd. boosted its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,582 shares of the cell phone carrier’s stock after purchasing 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 bought and sold shares of VZ. Moneta Group Investment Advisors LLC increased its stake in shares of Verizon Communications by 88,532.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 79,084,569 shares of the cell phone carrier’s stock valued at $3,115,932,000 after buying an additional 78,995,341 shares during the period. Norges Bank purchased a new position in shares of Verizon Communications during the fourth quarter valued at approximately $1,829,675,000. Morgan Stanley grew its stake in Verizon Communications by 21.4% in the fourth quarter. Morgan Stanley now owns 67,976,459 shares of the cell phone carrier’s stock worth $2,678,273,000 after purchasing an additional 11,987,691 shares during the period. State Street Corp grew its stake in Verizon Communications by 4.9% in the second quarter. State Street Corp now owns 175,039,883 shares of the cell phone carrier’s stock worth $6,509,733,000 after purchasing an additional 8,171,700 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Verizon Communications by 81.3% in the first quarter. Renaissance Technologies LLC now owns 10,604,493 shares of the cell phone carrier’s stock worth $540,193,000 after purchasing an additional 4,756,222 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the transaction, the chief executive officer now directly owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.02% of the company’s stock.

Verizon Communications Trading Up 1.0 %

VZ opened at $41.96 on Monday. The stock has a fifty day moving average price of $40.68 and a 200-day moving average price of $37.45. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.21. The firm 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. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47.

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

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid 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 presently 96.38%.

Wall Street Analyst Weigh In

VZ has been the topic of several analyst reports. Citigroup boosted their target price on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Barclays upped their price target on Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Wells Fargo & Company increased their target price on Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Raymond James increased their target price on Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, StockNews.com cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.86.

Get Our Latest Analysis on VZ

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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