Qsemble Capital Management LP Decreases Stock Position in Verizon Communications Inc. (NYSE:VZ)

Qsemble Capital Management LP decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 94.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,647 shares of the cell phone carrier’s stock after selling 151,153 shares during the quarter. Qsemble Capital Management LP’s holdings in Verizon Communications were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Bogart Wealth LLC increased its holdings in Verizon Communications by 5.1% in the 3rd quarter. Bogart Wealth LLC now owns 17,038 shares of the cell phone carrier’s stock valued at $552,000 after purchasing an additional 821 shares during the last quarter. Private Management Group Inc. boosted its holdings in Verizon Communications by 40.9% during the 3rd quarter. Private Management Group Inc. now owns 1,175,718 shares of the cell phone carrier’s stock valued at $38,105,000 after acquiring an additional 341,400 shares during the period. Leisure Capital Management raised its position in Verizon Communications by 76.3% in the 3rd quarter. Leisure Capital Management now owns 41,217 shares of the cell phone carrier’s stock valued at $1,336,000 after purchasing an additional 17,836 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Verizon Communications by 10.3% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 49,525 shares of the cell phone carrier’s stock worth $1,605,000 after buying an additional 4,614 shares during the period. Finally, San Luis Wealth Advisors LLC lifted its stake in Verizon Communications by 1.8% in the third quarter. San Luis Wealth Advisors LLC now owns 148,072 shares of the cell phone carrier’s stock worth $4,799,000 after acquiring an additional 2,616 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

NYSE VZ traded up $0.14 during trading hours on Monday, hitting $40.54. 5,075,133 shares of the stock were exchanged, compared to its average volume of 19,477,924. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42. The stock has a 50-day moving average of $40.29 and a 200 day moving average of $39.15. The company has a market cap of $170.64 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 2.93 and a beta of 0.42. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42.

Verizon Communications (NYSE:VZGet Free Report) last announced its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. Verizon Communications’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.6 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.56%. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of analyst reports. KeyCorp raised their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Citigroup upped their price objective on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Oppenheimer reissued an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. 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. Finally, Raymond James boosted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.21.

Get Our Latest Analysis on Verizon Communications

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction 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 owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.03% of the company’s stock.

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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