Verizon Communications Inc. (NYSE:VZ) Shares Bought by Cutler Capital Management LLC

Cutler Capital Management LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,819 shares of the cell phone carrier’s stock after purchasing an additional 15,782 shares during the period. Cutler Capital Management LLC’s holdings in Verizon Communications were worth $3,472,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Verizon Communications during the fourth quarter worth about $28,000. Legend Financial Advisors Inc. raised its position in shares of Verizon Communications by 69.6% during 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. Graney & King LLC acquired a new position in Verizon Communications in the fourth quarter valued at approximately $32,000. Compass Financial Services Inc acquired a new position in Verizon Communications in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Verizon Communications in the fourth quarter worth approximately $38,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 1.2 %

Shares of NYSE:VZ opened at $42.09 on Wednesday. Verizon Communications Inc. has a twelve month low of $37.59 and a twelve month high of $47.36. The company has a market capitalization of $177.17 billion, a PE ratio of 10.17, a P/E/G ratio of 4.45 and a beta of 0.41. 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 50 day simple moving average of $42.79 and a 200-day simple moving average of $42.06.

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. On average, equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.44%. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, January 29th. Tigress Financial reissued a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, Scotiabank increased their price objective on shares of Verizon Communications from $48.00 to $48.50 and gave the stock a “sector perform” rating in a research report on Tuesday. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average price target of $46.85.

Insider Buying and Selling at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction dated 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 owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. The trade was 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 valued at $2,020,895. 0.02% of the stock is owned by company insiders.

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).