Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 79,938 shares of the cell phone carrier’s stock after purchasing an additional 1,082 shares during the period. Providence Capital Advisors LLC’s holdings in Verizon Communications were worth $3,197,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Vanguard Group Inc. raised its position in shares of Verizon Communications by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 363,824,525 shares of the cell phone carrier’s stock valued at $14,549,343,000 after buying an additional 5,697,337 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Verizon Communications by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,694,230 shares of the cell phone carrier’s stock worth $4,346,682,000 after acquiring an additional 7,421,148 shares during the period. Geode Capital Management LLC raised its holdings in Verizon Communications by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock valued at $4,289,054,000 after acquiring an additional 2,081,241 shares during the last quarter. Norges Bank purchased a new position in shares of Verizon Communications during the 4th quarter worth $2,300,846,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Verizon Communications during the fourth quarter worth $1,083,337,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

Shares of VZ stock opened at $44.99 on Friday. The firm has a fifty day simple moving average of $41.98 and a 200-day simple moving average of $42.07. 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 company has a market capitalization of $189.38 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a twelve month low of $37.59 and a twelve month high of $47.36.

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 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 company posted $1.08 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.02%. Verizon Communications’s payout ratio is 65.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on VZ shares. Tigress Financial reiterated a “buy” rating and issued a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a report on Tuesday. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. UBS Group increased their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.71.

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the firm’s stock in a transaction dated 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 $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is currently owned by insiders.

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).