Lockheed Martin Investment Management Co. Increases Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Lockheed Martin Investment Management Co. lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 35.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 548,300 shares of the cell phone carrier’s stock after acquiring an additional 142,600 shares during the period. Verizon Communications makes up approximately 0.9% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 26th largest holding. Lockheed Martin Investment Management Co.’s holdings in Verizon Communications were worth $21,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VZ. Weaver Capital Management LLC boosted its holdings in shares of Verizon Communications by 19.0% in the 4th quarter. Weaver Capital Management LLC now owns 32,238 shares of the cell phone carrier’s stock valued at $1,289,000 after acquiring an additional 5,143 shares during the last quarter. Groesbeck Investment Management Corp NJ acquired a new position in Verizon Communications during the fourth quarter valued at $362,000. Hager Investment Management Services LLC purchased a new stake in Verizon Communications in the fourth quarter valued at $38,000. Stratos Investment Management LLC grew its position in Verizon Communications by 33.8% during the 4th quarter. Stratos Investment Management LLC now owns 9,450 shares of the cell phone carrier’s stock worth $378,000 after purchasing an additional 2,387 shares during the period. Finally, Silverlake Wealth Management LLC lifted its holdings in shares of Verizon Communications by 1.6% in the 4th quarter. Silverlake Wealth Management LLC now owns 113,557 shares of the cell phone carrier’s stock valued at $4,541,000 after buying an additional 1,767 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $39.83 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The business’s 50 day moving average price is $40.53 and its 200 day moving average price is $41.56. The company has a market cap of $167.65 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 4.11 and a beta of 0.45. Verizon Communications Inc. has a one year low of $37.58 and a one 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 (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 in the previous year, the business posted $1.08 earnings per share. On average, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend was Friday, January 10th. Verizon Communications’s payout ratio is presently 65.46%.

Analyst Ratings Changes

Several analysts recently commented on VZ shares. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Wolfe Research increased their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, January 29th. Finally, Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. 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 company’s stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $46.08.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction on 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 directly owns 14,590 shares in the company, valued at $596,439.20. This represents a 43.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently 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).