Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Burford Brothers Inc.

Burford Brothers Inc. increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,276 shares of the cell phone carrier’s stock after purchasing an additional 5,576 shares during the quarter. Verizon Communications accounts for approximately 0.9% of Burford Brothers Inc.’s holdings, making the stock its 21st biggest position. Burford Brothers Inc.’s holdings in Verizon Communications were worth $1,891,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications in the 3rd quarter valued at about $31,000. Accordant Advisory Group Inc boosted its position 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 purchasing an additional 450 shares in the last quarter. Legend Financial Advisors Inc. grew 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 purchasing an additional 320 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Verizon Communications during the 3rd quarter worth $44,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on VZ shares. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, January 29th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Finally, Wolfe Research increased their price objective on Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 11,085 shares of the business’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 transaction of $453,154.80. Following the transaction, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.02% of the stock is owned by corporate insiders.

Verizon Communications Price Performance

VZ stock opened at $39.41 on Monday. The company has a market cap of $165.88 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 4.21 and a beta of 0.46. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average price of $40.61 and a two-hundred day moving average price of $41.57. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36.

Verizon Communications (NYSE:VZ) last issued its earnings results 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 firm posted $1.08 EPS. As a group, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

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