FUKOKU MUTUAL LIFE INSURANCE Co Trims Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

FUKOKU MUTUAL LIFE INSURANCE Co trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 624,444 shares of the cell phone carrier’s stock after selling 1,707 shares during the period. Verizon Communications comprises about 1.8% of FUKOKU MUTUAL LIFE INSURANCE Co’s investment portfolio, making the stock its 20th largest position. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Verizon Communications were worth $24,972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications during the 3rd quarter worth about $31,000. Legend Financial Advisors Inc. increased its position in Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Verizon Communications during the 4th quarter worth approximately $33,000. Hager Investment Management Services LLC acquired a new stake in Verizon Communications during the 4th quarter worth approximately $38,000. Finally, Cedar Mountain Advisors LLC increased its position 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 worth $39,000 after purchasing an additional 839 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total transaction of $319,040.00. Following the sale, the chief executive officer now owns 6,590 shares in the company, valued at $262,809.20. The trade was a 54.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 39,085 shares of company stock valued at $1,582,995. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VZ shares. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. 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. Deutsche Bank Aktiengesellschaft increased their target price on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Finally, Scotiabank raised their price objective on Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Ten 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.16 on Thursday. The stock has a market cap of $181.69 billion, a P/E ratio of 10.43, a PEG ratio of 4.45 and a beta of 0.45. The stock has a 50 day simple moving average of $40.07 and a 200 day simple moving average of $41.68. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $45.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data 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 period last year, the firm earned $1.08 earnings per share. Research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share 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 6.28%. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.

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).