American National Bank Boosts Stake in Verizon Communications Inc. (NYSE:VZ)

American National Bank increased its position in Verizon Communications Inc. (NYSE:VZFree Report) by 22.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 56,068 shares of the cell phone carrier’s stock after purchasing an additional 10,142 shares during the period. American National Bank’s holdings in Verizon Communications were worth $2,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA raised its stake in Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 565 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in Verizon Communications during the 4th quarter valued at approximately $25,000. Morton Brown Family Wealth LLC raised its stake in Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after acquiring an additional 488 shares during the last quarter. Cetera Trust Company N.A purchased a new stake in Verizon Communications during the 4th quarter valued at approximately $37,000. Finally, Mizuho Securities Co. Ltd. raised its stake in Verizon Communications by 3,233.3% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 1,000 shares of the cell phone carrier’s stock valued at $38,000 after acquiring an additional 970 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

NYSE:VZ traded down $0.19 during trading hours on Friday, reaching $40.06. 14,670,373 shares of the company traded hands, compared to its average volume of 18,686,390. The firm’s 50-day moving average is $40.34 and its 200-day moving average is $39.30. The stock has a market cap of $168.62 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.92 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. Verizon Communications’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts expect that Verizon Communications Inc. will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date was Tuesday, April 9th. Verizon Communications’s dividend payout ratio is presently 99.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VZ. Raymond James increased their target price on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. UBS Group increased their target price on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Daiwa Capital Markets raised Verizon Communications from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $47.00 in a research note on Wednesday, January 24th. Barclays upped their price target on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.36.

View Our Latest Analysis on Verizon Communications

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the 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 transaction, the chief executive officer now owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.02% of the company’s stock.

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).

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

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