Verizon Communications Inc. (NYSE:VZ) Shares Sold by AMG National Trust Bank

AMG National Trust Bank lowered its position in Verizon Communications Inc. (NYSE:VZ) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,172 shares of the cell phone carrier’s stock after selling 1,129 shares during the quarter. AMG National Trust Bank’s holdings in Verizon Communications were worth $6,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Verizon Communications in the fourth quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications during the third quarter worth about $31,000. Legend Financial Advisors Inc. lifted its stake 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 worth $31,000 after acquiring an additional 320 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Verizon Communications in the fourth quarter worth about $33,000. 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.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 8,000 shares of the company’s stock in a transaction dated 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 approximately $262,809.20. This represents a 54.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 in the company, valued at approximately $633,159.61. This trade represents a 40.88 % 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 in the last ninety days. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VZ shares. Tigress Financial restated a “buy” rating and set a $55.00 price objective on shares of Verizon Communications in a research note on Thursday, January 30th. StockNews.com upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Scotiabank upped their price objective on Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research note on Monday. Sanford C. Bernstein started coverage on 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $46.11.

Verizon Communications Trading Up 3.3 %

VZ opened at $44.26 on Friday. The stock has a market capitalization of $186.30 billion, a P/E ratio of 10.69, a P/E/G ratio of 4.45 and a beta of 0.45. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $45.36. The firm’s fifty day simple moving average is $40.49 and its 200 day simple moving average is $41.79. 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 issued its quarterly earnings results 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 return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.12%. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

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).