Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 69.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,188 shares of the cell phone carrier’s stock after buying an additional 102,667 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Verizon Communications were worth $10,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VZ. Capital Performance Advisors LLP acquired a new position in shares of Verizon Communications during the third quarter valued at about $31,000. Legend Financial Advisors Inc. grew its position in Verizon Communications by 69.6% during 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 during the last quarter. Compass Financial Services Inc acquired a new position in Verizon Communications during the 4th quarter valued at approximately $33,000. Hager Investment Management Services LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth $38,000. Finally, Cedar Mountain Advisors LLC raised its holdings in shares of Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after buying an additional 839 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $43.81 on Tuesday. The firm has a market cap of $184.43 billion, a PE ratio of 10.58, a P/E/G ratio of 4.45 and a beta of 0.45. The business has a 50-day moving average price of $40.28 and a 200 day moving average price of $41.75. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $45.36.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 previous year, the firm earned $1.08 earnings per share. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.19%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s payout ratio is 65.46%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VZ shares. 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 research report on Friday, January 24th. Royal Bank of Canada cut their price objective on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Scotiabank lifted their target price on Verizon Communications from $47.50 to $48.00 and gave the stock a “sector perform” rating in a report on Monday. Tigress Financial reiterated a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. Finally, Wolfe Research lifted their price objective on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued 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 price target of $46.11.

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.54, for a total transaction of $810,800.00. Following the completion of the transaction, the chief executive officer now owns 45,675 shares of the company’s stock, valued at $1,851,664.50. This represents a 30.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,085 shares of company stock worth $2,020,895 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Verizon Communications Company 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).