Verizon Communications Inc. (NYSE:VZ) Position Lessened by Intrust Bank NA

Intrust Bank NA lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,457 shares of the cell phone carrier’s stock after selling 973 shares during the quarter. Intrust Bank NA’s holdings in Verizon Communications were worth $2,738,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC acquired a new position in shares of Verizon Communications during the fourth quarter valued at $28,000. Legend Financial Advisors Inc. boosted its stake 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 valued at $31,000 after purchasing an additional 320 shares during the period. Graney & King LLC bought a new position in Verizon Communications in the 4th quarter worth about $32,000. Compass Financial Services Inc acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $38,000. 62.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein started coverage on Verizon Communications in a report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective for the company. Scotiabank increased their target price on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research report on Monday, March 3rd. Argus raised Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Verizon Communications Price Performance

VZ opened at $44.96 on Friday. The firm has a market capitalization of $189.25 billion, a P/E ratio of 10.86, a PEG ratio of 4.45 and a beta of 0.41. The stock has a fifty day moving average of $42.11 and a 200-day moving average of $42.09. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $47.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the company earned $1.08 earnings per share. Equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s payout ratio is presently 65.46%.

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).