Verizon Communications Inc. (NYSE:VZ) Shares Bought by Creekmur Asset Management LLC

Creekmur Asset Management LLC lifted its position in Verizon Communications Inc. (NYSE:VZ) by 819.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,852 shares of the cell phone carrier’s stock after purchasing an additional 9,672 shares during the period. Creekmur Asset Management LLC’s holdings in Verizon Communications were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VZ. Mainstream Capital Management LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth about $28,000. Legend Financial Advisors Inc. grew its position in shares of 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 purchasing an additional 320 shares in the last quarter. Graney & King LLC acquired a new position in Verizon Communications during the fourth quarter worth $32,000. Compass Financial Services Inc purchased a new position in Verizon Communications during the fourth quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new position in Verizon Communications in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.0 %

NYSE VZ opened at $45.38 on Wednesday. The firm has a market cap of $191.02 billion, a PE ratio of 10.96, a P/E/G ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The firm’s fifty day moving average is $42.36 and its two-hundred day moving average is $42.08. 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 (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 quarter last year, the business earned $1.08 EPS. Analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced 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 5.97%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s payout ratio is currently 65.46%.

Analyst Ratings Changes

A number of research firms have recently issued reports on VZ. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Argus upgraded Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Finally, Tigress Financial reissued a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. Ten 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.82.

Insider Activity

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 transaction of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kyle Malady sold 20,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.54, for a total transaction of $810,800.00. Following the transaction, the chief executive officer now directly owns 45,675 shares in the company, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their position. 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 ninety days. 0.03% of the stock is currently owned by insiders.

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).