Verizon Communications Inc. (NYSE:VZ) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC reduced its position in shares of Verizon Communications Inc. (NYSE:VZ) by 13.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,500,964 shares of the cell phone carrier’s stock after selling 240,293 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Verizon Communications were worth $60,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in Verizon Communications in the fourth quarter worth approximately $28,000. 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. Graney & King LLC purchased a new position in Verizon Communications in the 4th quarter worth about $32,000. Compass Financial Services Inc purchased a new stake in Verizon Communications during the fourth quarter valued at about $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $38,000. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on VZ. Wolfe Research cut shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, March 12th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Argus raised Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Tigress Financial reaffirmed a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein began coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target for the company. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Verizon Communications Trading Down 0.0 %

Shares of NYSE:VZ opened at $44.96 on Friday. 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 market capitalization of $189.25 billion, a PE ratio of 10.86, a P/E/G ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The firm has a fifty day moving average price of $42.11 and a 200 day moving average price of $42.08.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 quarter last year, the firm earned $1.08 earnings per share. Analysts expect 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. Stockholders of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the transaction, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,085 shares of company stock worth $2,020,895. Company insiders own 0.02% of the company’s stock.

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).