Verizon Communications Inc. (NYSE:VZ) Shares Sold by Optimist Retirement Group LLC

Optimist Retirement Group LLC lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,550 shares of the cell phone carrier’s stock after selling 672 shares during the quarter. Verizon Communications makes up approximately 1.1% of Optimist Retirement Group LLC’s holdings, making the stock its 23rd biggest holding. Optimist Retirement Group LLC’s holdings in Verizon Communications were worth $2,221,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Verizon Communications by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock valued at $4,548,163,000 after buying an additional 5,936,009 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Verizon Communications by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock valued at $4,289,054,000 after acquiring an additional 2,081,241 shares during the last quarter. FMR LLC raised its position in shares of Verizon Communications by 2.0% during the 3rd quarter. FMR LLC now owns 29,074,297 shares of the cell phone carrier’s stock valued at $1,305,727,000 after acquiring an additional 565,842 shares in the last quarter. Parnassus Investments LLC lifted its stake in Verizon Communications by 2.8% during the third quarter. Parnassus Investments LLC now owns 18,161,563 shares of the cell phone carrier’s stock worth $815,636,000 after purchasing an additional 502,949 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Verizon Communications by 0.4% in the third quarter. Swiss National Bank now owns 12,493,998 shares of the cell phone carrier’s stock worth $561,105,000 after purchasing an additional 46,100 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.8 %

Shares of NYSE VZ opened at $40.14 on Thursday. The business has a fifty day simple moving average of $40.44 and a 200-day simple moving average of $41.54. 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 company has a market cap of $168.99 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 4.11 and a beta of 0.45. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $45.36.

Verizon Communications (NYSE:VZ) last issued its quarterly 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 net margin of 12.99% and a return on equity of 19.80%. During the same quarter in the previous year, the company posted $1.08 earnings per share. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a dividend of $0.6775 per share. The ex-dividend date was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.75%. Verizon Communications’s dividend payout ratio is 65.46%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Tigress Financial restated a “buy” rating and set a $55.00 price objective on shares of Verizon Communications in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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 research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average target price of $46.08.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $262,809.20. The trade was a 54.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 39,085 shares of company stock valued at $1,582,995. Company insiders own 0.03% of the company’s stock.

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).