Comprehensive Financial Consultants Institutional Inc. Acquires 4,922 Shares of Verizon Communications Inc. (NYSE:VZ)

Comprehensive Financial Consultants Institutional Inc. grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 99,845 shares of the cell phone carrier’s stock after purchasing an additional 4,922 shares during the period. Verizon Communications comprises approximately 1.5% of Comprehensive Financial Consultants Institutional Inc.’s portfolio, making the stock its 17th biggest position. Comprehensive Financial Consultants Institutional Inc.’s holdings in Verizon Communications were worth $3,993,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of Verizon Communications during the 3rd quarter worth approximately $31,000. Accordant Advisory Group Inc lifted its holdings in Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 450 shares during the period. 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 worth $31,000 after purchasing an additional 320 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in Verizon Communications by 655.5% in the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after purchasing an additional 839 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Verizon Communications during the 3rd quarter valued at $44,000. Institutional investors own 62.06% of the company’s stock.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 20,000 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now owns 45,675 shares in the company, valued at approximately $1,851,664.50. This trade represents a 30.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VZ shares. UBS Group boosted their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. Finally, Argus upgraded Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Stock Performance

NYSE VZ opened at $39.41 on Friday. The company’s 50 day simple moving average is $40.61 and its two-hundred day simple moving average is $41.57. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The stock has a market capitalization of $165.88 billion, a PE ratio of 9.52, a P/E/G ratio of 4.21 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company posted $1.08 earnings per share. Analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

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).