Argentarii LLC Makes New $280,000 Investment in Verizon Communications Inc. (NYSE:VZ)

Argentarii LLC purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,999 shares of the cell phone carrier’s stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth $28,000. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications during the third quarter worth $31,000. Legend Financial Advisors Inc. boosted its position in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 320 shares during the period. Compass Financial Services Inc purchased a new position in shares of Verizon Communications during the fourth quarter worth $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Verizon Communications in the fourth quarter valued at $38,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 4.3 %

VZ opened at $46.13 on Monday. The business’s 50-day simple moving average is $40.61 and its 200-day simple moving average is $41.84. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $46.20. The stock has a market capitalization of $194.20 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted 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 period last year, the firm posted $1.08 EPS. Analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares in the company, valued at $262,809.20. The trade was a 54.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. StockNews.com upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Argus upgraded Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Sanford C. Bernstein assumed coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price for the company. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.11.

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).