Verizon Communications Inc. (NYSE:VZ) Shares Acquired by TIAA Trust National Association

TIAA Trust National Association lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 136,999 shares of the cell phone carrier’s stock after acquiring an additional 1,335 shares during the period. TIAA Trust National Association’s holdings in Verizon Communications were worth $5,478,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of VZ. Mainstream Capital Management LLC purchased a new stake in Verizon Communications during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. boosted its position 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 buying an additional 320 shares during the last quarter. Compass Financial Services Inc acquired a new position in Verizon Communications in the 4th quarter worth approximately $33,000. Hager Investment Management Services LLC acquired a new position in Verizon Communications in the 4th quarter worth approximately $38,000. Finally, Cedar Mountain Advisors LLC raised its position in Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after buying an additional 839 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE:VZ opened at $44.18 on Thursday. The firm has a market cap of $185.99 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. The stock has a 50 day moving average of $41.85 and a two-hundred day moving average of $42.05. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data 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 net margin of 12.99% and a return on equity of 19.80%. During the same period last year, the company earned $1.08 earnings per share. On average, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on VZ. StockNews.com lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. UBS Group upped their target price on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, 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 on the stock. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.71.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction 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 transaction, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,085 shares of company stock worth $2,020,895. Insiders own 0.02% of the company’s stock.

Verizon Communications 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).