Alerus Financial NA Boosts Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Alerus Financial NA raised its position in Verizon Communications Inc. (NYSE:VZ) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,688 shares of the cell phone carrier’s stock after acquiring an additional 1,660 shares during the period. Alerus Financial NA’s holdings in Verizon Communications were worth $6,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Mainstream Capital Management LLC purchased a new stake in Verizon Communications during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. increased its holdings in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 320 shares during the last quarter. Graney & King LLC purchased a new stake in Verizon Communications in the fourth quarter valued at $32,000. Compass Financial Services Inc acquired a new position in Verizon Communications in the fourth quarter valued at $33,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth about $38,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Up 1.8 %

VZ stock opened at $44.99 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $47.36. The business’s fifty day moving average price is $41.98 and its two-hundred day moving average price is $42.07. The stock has a market capitalization of $189.38 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insiders Place Their Bets

In related news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the transaction, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. This represents a 43.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,085 shares of company stock worth $2,020,895. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VZ shares. Wolfe Research downgraded Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Tigress Financial reissued a “buy” rating and issued a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. Finally, StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.71.

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).