Horizon Kinetics Asset Management LLC Acquires 1,153 Shares of Verizon Communications Inc. (NYSE:VZ)

Horizon Kinetics Asset Management LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 24.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,828 shares of the cell phone carrier’s stock after acquiring an additional 1,153 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Verizon Communications were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Kirtland Hills Capital Management LLC grew its position in Verizon Communications by 2.4% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after purchasing an additional 252 shares during the last quarter. First Dallas Securities Inc. boosted its holdings in shares of Verizon Communications by 0.8% during the 3rd quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock valued at $1,425,000 after acquiring an additional 257 shares during the last quarter. JB Capital LLC boosted its holdings in shares of Verizon Communications by 1.3% during the 4th quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock valued at $832,000 after acquiring an additional 258 shares during the last quarter. Curbstone Financial Management Corp grew its position in Verizon Communications by 0.8% during the fourth quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock valued at $1,391,000 after buying an additional 262 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in Verizon Communications by 9.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier’s stock valued at $117,000 after buying an additional 263 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

Verizon Communications stock opened at $43.69 on Tuesday. The company has a market cap of $183.90 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 4.45 and a beta of 0.41. The firm’s fifty day moving average is $41.09 and its 200 day moving average is $41.95. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $47.36.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 quarter in the prior year, the firm posted $1.08 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Analysts Set New Price Targets

Several brokerages recently issued reports on VZ. UBS Group boosted their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, January 29th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Tigress Financial reaffirmed a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. Finally, Scotiabank lifted their price target on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a report on Monday, March 3rd. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.11.

Insider Buying and Selling at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the transaction, the chief executive officer now owns 14,590 shares in the company, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock worth $2,020,895 over the last quarter. Insiders own 0.02% of the company’s stock.

About Verizon Communications

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).