Blue Trust Inc. Buys 3,473 Shares of Verizon Communications Inc. (NYSE:VZ)

Blue Trust Inc. increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,192 shares of the cell phone carrier’s stock after buying an additional 3,473 shares during the quarter. Blue Trust Inc.’s holdings in Verizon Communications were worth $1,807,000 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. Capital Performance Advisors LLP acquired a new position in Verizon Communications in the third quarter worth about $31,000. Legend Financial Advisors Inc. grew its stake in shares of Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the period. Compass Financial Services Inc acquired a new position in shares of Verizon Communications in the 4th quarter worth approximately $33,000. Accordant Advisory Group Inc lifted its position in shares of Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after buying an additional 450 shares during the period. Finally, Hager Investment Management Services LLC acquired a new stake in Verizon Communications in the 4th quarter valued at $38,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Down 0.1 %

Shares of NYSE VZ opened at $41.00 on Friday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The firm’s 50-day moving average is $39.94 and its 200-day moving average is $41.56. 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 firm has a market capitalization of $172.59 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 4.17 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last released its earnings results 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 return on equity of 19.80% and a net margin of 12.99%. During the same quarter last year, the business posted $1.08 EPS. Equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.61%. The ex-dividend date was Friday, January 10th. Verizon Communications’s payout ratio is 65.46%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the sale, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 39,085 shares of company stock worth $1,582,995. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

VZ has been the subject of a number of analyst reports. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, January 29th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Scotiabank raised their price objective on shares of Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Finally, KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Verizon Communications 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).