Parallel Advisors LLC Sells 10,245 Shares of Verizon Communications Inc. (NYSE:VZ)

Parallel Advisors LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 3.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 269,632 shares of the cell phone carrier’s stock after selling 10,245 shares during the period. Parallel Advisors LLC’s holdings in Verizon Communications were worth $10,783,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Kirtland Hills Capital Management LLC boosted its stake in Verizon Communications by 2.4% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock worth $439,000 after purchasing an additional 252 shares in the last quarter. First Dallas Securities Inc. increased its position in Verizon Communications by 0.8% in the third quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock worth $1,425,000 after purchasing an additional 257 shares during the last quarter. JB Capital LLC increased its position in Verizon Communications by 1.3% in the fourth quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock worth $832,000 after purchasing an additional 258 shares during the last quarter. Curbstone Financial Management Corp increased its position in Verizon Communications by 0.8% in the fourth quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock worth $1,391,000 after purchasing an additional 262 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake 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 worth $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.

Insider Transactions at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the sale, the executive vice president now owns 14,459 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Also, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now owns 14,590 shares of the company’s stock, valued at $596,439.20. This trade represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is currently owned by corporate insiders.

Verizon Communications Trading Down 0.1 %

Shares of VZ opened at $43.67 on Monday. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $47.36. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm’s fifty day moving average is $41.01 and its two-hundred day moving average is $41.93. The stock has a market cap of $183.82 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period in the previous year, the business posted $1.08 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 6.21%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s dividend payout ratio is presently 65.46%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price objective for the company. Royal Bank of Canada lowered their target price on shares of Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. StockNews.com lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Scotiabank boosted their target price on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research note on Monday, March 3rd. Finally, TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.11.

Verizon Communications Company Profile

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).