Verizon Communications Inc. (NYSE:VZ) Stake Raised by Sunpointe LLC

Sunpointe LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 23.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,425 shares of the cell phone carrier’s stock after purchasing an additional 2,170 shares during the period. Sunpointe LLC’s holdings in Verizon Communications were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications during the third quarter worth $31,000. Legend Financial Advisors Inc. increased its stake in Verizon Communications by 69.6% in the 4th 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 in the last quarter. Compass Financial Services Inc acquired a new stake in Verizon Communications during the 4th quarter worth about $33,000. Accordant Advisory Group Inc lifted its stake 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 valued at $35,000 after buying an additional 450 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 2.0 %

VZ stock opened at $42.04 on Thursday. 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 firm has a market cap of $176.95 billion, a PE ratio of 10.15, a PEG ratio of 4.28 and a beta of 0.45. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The company has a fifty day simple moving average of $39.89 and a 200 day simple moving average of $41.58.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) 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 period in the prior year, the company posted $1.08 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend was Friday, January 10th. Verizon Communications’s dividend payout ratio is 65.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Royal Bank of Canada decreased their target price on Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Sanford C. Bernstein started coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares in the company, valued at $262,809.20. This trade represents a 54.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 39,085 shares of company stock worth $1,582,995. 0.02% of the stock is 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).