Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Easterly Investment Partners LLC

Easterly Investment Partners LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 398,561 shares of the cell phone carrier’s stock after buying an additional 9,063 shares during the period. Verizon Communications makes up approximately 1.3% of Easterly Investment Partners LLC’s investment portfolio, making the stock its 14th biggest holding. Easterly Investment Partners LLC’s holdings in Verizon Communications were worth $15,938,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new stake in Verizon Communications during the 4th quarter worth about $28,000. Legend Financial Advisors Inc. lifted its holdings in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the period. Graney & King LLC purchased a new stake in Verizon Communications in the 4th quarter worth approximately $32,000. Compass Financial Services Inc acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at approximately $38,000. 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 firm’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 value of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the transaction, the chief executive officer now directly owns 45,675 shares in the company, valued at $1,851,664.50. This represents a 30.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,085 shares of company stock worth $2,020,895 over the last 90 days. 0.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VZ shares. UBS Group lifted 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday. Sanford C. Bernstein started coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective on the stock. Tigress Financial reiterated a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. Finally, TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Verizon Communications Stock Performance

Shares of VZ stock opened at $44.18 on Thursday. The firm has a market cap of $185.99 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 4.45 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The stock’s 50-day moving average is $41.85 and its two-hundred day moving average is $42.05.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS 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 last year, the firm earned $1.08 earnings per share. Analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.13%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is presently 65.46%.

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).