Bailard Inc. Purchases 2,173 Shares of Verizon Communications Inc. (NYSE:VZ)

Bailard Inc. raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,950 shares of the cell phone carrier’s stock after acquiring an additional 2,173 shares during the period. Bailard Inc.’s holdings in Verizon Communications were worth $3,037,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VZ. Capital Performance Advisors LLP bought a new position in Verizon Communications during the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. boosted its stake 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 valued at $31,000 after purchasing an additional 320 shares during the period. Compass Financial Services Inc bought a new position in shares of Verizon Communications in the fourth quarter worth approximately $33,000. Hager Investment Management Services LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth $38,000. Finally, Cedar Mountain Advisors LLC raised its holdings in Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $43.12 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The stock has a market cap of $181.50 billion, a P/E ratio of 10.41, a P/E/G ratio of 4.45 and a beta of 0.45. The business’s 50 day moving average price is $40.20 and its 200-day moving average price is $41.72. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36.

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 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 period in the prior year, the company earned $1.08 earnings per share. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.29%. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Insider Buying and Selling at Verizon Communications

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 transaction of $437,900.00. Following the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the transaction, the chief executive officer now directly owns 45,675 shares of the company’s stock, valued at approximately $1,851,664.50. This trade represents a 30.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Argus raised shares of Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein started coverage on Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Tigress Financial reiterated a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a report on Thursday, January 30th. Finally, Royal Bank of Canada reduced their target price on Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $46.08.

About Verizon Communications

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).