V Square Quantitative Management LLC Buys 22,336 Shares of Verizon Communications Inc. (NYSE:VZ)

V Square Quantitative Management LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 42.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 75,191 shares of the cell phone carrier’s stock after buying an additional 22,336 shares during the quarter. Verizon Communications accounts for approximately 0.5% of V Square Quantitative Management LLC’s portfolio, making the stock its 27th biggest position. V Square Quantitative Management LLC’s holdings in Verizon Communications were worth $3,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Verizon Communications in the fourth quarter valued at approximately $1,882,164,000. Capital World Investors increased its stake in Verizon Communications by 127.6% in the 4th quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after buying an additional 12,220,777 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Verizon Communications by 92.9% during the 4th quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock worth $851,989,000 after buying an additional 10,882,873 shares in the last quarter. Third Point LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $173,325,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Verizon Communications by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 98,027,542 shares of the cell phone carrier’s stock valued at $3,151,714,000 after acquiring an additional 4,527,387 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the sale, the chief executive officer now owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

VZ has been the subject of several research analyst reports. Daiwa Capital Markets raised Verizon Communications from a “neutral” rating to an “outperform” rating and raised their target price for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Wells Fargo & Company dropped their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Royal Bank of Canada raised their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, KeyCorp upped their price objective on Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.36.

Check Out Our Latest Analysis on VZ

Verizon Communications Stock Performance

Shares of NYSE VZ traded down $0.47 during mid-day trading on Tuesday, hitting $39.65. The company had a trading volume of 18,324,866 shares, compared to its average volume of 19,342,398. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42. The company has a market capitalization of $166.90 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 2.91 and a beta of 0.42. The stock’s 50-day moving average price is $40.33 and its 200-day moving average price is $39.41.

Verizon Communications (NYSE:VZGet Free Report) last issued its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business had revenue of $33 billion during the quarter, compared to the consensus estimate of $33.23 billion. During the same quarter last year, the company earned $1.20 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.6 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date was Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Verizon Communications Company Profile

(Free Report)

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).

Further Reading

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZFree Report).

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.