Leuthold Group LLC Sells 2,600 Shares of Verizon Communications Inc. (NYSE:VZ)

Leuthold Group LLC cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,620 shares of the cell phone carrier’s stock after selling 2,600 shares during the period. Leuthold Group LLC’s holdings in Verizon Communications were worth $2,824,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of VZ. AMF Tjanstepension AB lifted its holdings in shares of Verizon Communications by 58.0% during the third quarter. AMF Tjanstepension AB now owns 1,756,452 shares of the cell phone carrier’s stock valued at $78,975,000 after acquiring an additional 644,761 shares during the period. Alpha Financial Partners LLC acquired a new stake in shares of Verizon Communications during the third quarter worth approximately $224,000. Swedbank AB boosted its holdings in shares of Verizon Communications by 0.8% in the 3rd quarter. Swedbank AB now owns 5,174,541 shares of the cell phone carrier’s stock worth $232,389,000 after acquiring an additional 39,403 shares in the last quarter. McAdam LLC grew its position in Verizon Communications by 3.0% during the 3rd quarter. McAdam LLC now owns 18,789 shares of the cell phone carrier’s stock worth $844,000 after acquiring an additional 543 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Verizon Communications by 4,520.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,815,534 shares of the cell phone carrier’s stock valued at $216,266,000 after purchasing an additional 4,711,309 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Verizon Communications stock opened at $42.77 on Friday. 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 market capitalization of $180.05 billion, a P/E ratio of 10.33, a PEG ratio of 4.40 and a beta of 0.45. The business has a 50-day moving average of $39.91 and a 200-day moving average of $41.61. 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 quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date was Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the completion of the transaction, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 39,085 shares of company stock valued at $1,582,995. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VZ has been the subject of a number of research reports. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Royal Bank of Canada dropped their target price on shares of Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. UBS Group raised their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Wolfe Research upped their price objective on Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, TD Cowen raised Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average target price of $46.08.

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).