Curi RMB Capital LLC Increases Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Curi RMB Capital LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 22.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,136 shares of the cell phone carrier’s stock after purchasing an additional 59,889 shares during the quarter. Curi RMB Capital LLC’s holdings in Verizon Communications were worth $13,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in Verizon Communications in the fourth quarter worth $28,000. Legend Financial Advisors Inc. grew its position in shares of 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 buying an additional 320 shares during the period. Graney & King LLC bought a new position in shares of Verizon Communications in the 4th quarter worth about $32,000. Compass Financial Services Inc purchased a new position in Verizon Communications during the 4th quarter valued at about $33,000. Finally, Hager Investment Management Services LLC bought a new stake in Verizon Communications during the fourth quarter worth about $38,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.9 %

Shares of Verizon Communications stock opened at $44.01 on Friday. Verizon Communications Inc. has a twelve month low of $37.59 and a twelve month high of $47.36. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average is $43.46 and its 200 day moving average is $42.01. The company has a market cap of $185.26 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its quarterly 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 net margin of 12.99% and a return on equity of 19.80%. During the same period in the prior year, the firm earned $1.08 EPS. Research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company 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 $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.16%. Verizon Communications’s payout ratio is 65.46%.

Insider Buying and Selling at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares of the company’s stock, valued at $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the transaction, the chief executive officer now owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock worth $2,020,895 in the last three months. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VZ shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price (up from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Scotiabank lifted their price objective on Verizon Communications from $48.00 to $48.50 and gave the company a “sector perform” rating in a research note on Tuesday, April 8th. Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Tigress Financial reaffirmed a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Finally, Wolfe Research downgraded shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, March 12th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.92.

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).