Norway Savings Bank Lowers Position in Verizon Communications Inc. (NYSE:VZ)

Norway Savings Bank lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,014 shares of the cell phone carrier’s stock after selling 1,390 shares during the period. Norway Savings Bank’s holdings in Verizon Communications were worth $981,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Certified Advisory Corp boosted its holdings in Verizon Communications by 1.0% in the 1st quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock worth $1,187,000 after buying an additional 233 shares during the last quarter. Pacifica Partners Inc. raised its stake in Verizon Communications by 4.6% in the 4th quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after purchasing an additional 255 shares during the last quarter. Selective Wealth Management Inc. lifted its holdings in Verizon Communications by 2.8% in the 4th quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after purchasing an additional 257 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Verizon Communications by 2.3% during the 3rd quarter. SRS Capital Advisors Inc. now owns 12,558 shares of the cell phone carrier’s stock worth $407,000 after purchasing an additional 285 shares during the last quarter. Finally, Salvus Wealth Management LLC raised its position in shares of Verizon Communications by 1.1% in the fourth quarter. Salvus Wealth Management LLC now owns 26,265 shares of the cell phone carrier’s stock valued at $990,000 after buying an additional 290 shares during the last quarter. 61.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Daiwa Capital Markets upgraded Verizon Communications from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $36.00 to $47.00 in a research report on Wednesday, January 24th. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and raised their target price for the stock from $33.00 to $39.00 in a research note on Friday. Raymond James boosted their price target on shares of Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, StockNews.com cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target of $43.86.

Check Out Our Latest Stock Report on Verizon Communications

Verizon Communications Stock Performance

NYSE VZ opened at $40.37 on Friday. The company has a market cap of $169.73 billion, a P/E ratio of 14.63, a P/E/G ratio of 3.08 and a beta of 0.40. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.21. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65. The stock has a 50-day moving average of $40.44 and a two-hundred day moving average of $37.17.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The firm had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. During the same period in the prior year, the firm earned $1.19 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts anticipate that Verizon Communications Inc. will post 4.6 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 annualized dividend and a yield of 6.59%. Verizon Communications’s dividend payout ratio (DPR) is 96.38%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the sale, the chief executive officer now directly owns 35,201 shares in the company, valued at $1,436,200.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.02% of the stock is owned by corporate insiders.

Verizon Communications 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).

Featured Articles

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.