Verizon Communications Inc. (NYSE:VZ) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. reduced its position in Verizon Communications Inc. (NYSE:VZFree Report) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 276,154 shares of the cell phone carrier’s stock after selling 4,471 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Verizon Communications were worth $10,411,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $40.33, for a total transaction of $604,950.00. Following the sale, the chief executive officer now owns 59,201 shares in the company, valued at $2,387,576.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is owned by insiders.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $42.84 on Thursday. The business’s fifty day moving average price is $40.78 and its two-hundred day moving average price is $37.63. The stock has a market cap of $180.11 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 3.43 and a beta of 0.41. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.21.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. The firm 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%. Verizon Communications’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, analysts forecast that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 96.38%.

Wall Street Analyst Weigh In

Several analysts have commented on VZ shares. Wells Fargo & Company upped their price objective on Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Royal Bank of Canada increased their target price on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Wolfe Research raised Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Thursday, January 4th. Finally, Citigroup increased their target price on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

View Our Latest Analysis on Verizon Communications

About Verizon Communications

(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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