Verizon Communications Inc. (NYSE:VZ) Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,334 shares of the cell phone carrier’s stock after selling 820 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Verizon Communications were worth $213,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications in the third quarter valued at 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 buying an additional 320 shares during the period. Accordant Advisory Group Inc increased its holdings 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 last quarter. Cedar Mountain Advisors LLC raised its position in shares of 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 period. Finally, MidAtlantic Capital Management Inc. acquired a new position in Verizon Communications in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

VZ stock opened at $39.41 on Friday. The business’s 50-day moving average is $40.69 and its two-hundred day moving average is $41.58. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The firm has a market capitalization of $165.88 billion, a P/E ratio of 9.52, a P/E/G ratio of 4.21 and a beta of 0.46. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the firm posted $1.08 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.6775 per share. The ex-dividend date is Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.88%. Verizon Communications’s payout ratio is currently 65.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Tigress Financial reaffirmed a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a research note on Thursday. Scotiabank boosted their price target on shares of Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the transaction, the chief executive officer now directly owns 14,590 shares in the company, valued at $596,439.20. This represents a 43.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.02% of the stock is owned by insiders.

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).