Verizon Communications Inc. (NYSE:VZ) Position Lessened by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 326,291 shares of the cell phone carrier’s stock after selling 3,478 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Verizon Communications were worth $13,048,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Verizon Communications in the 3rd quarter valued at approximately $31,000. Legend Financial Advisors Inc. boosted its position in shares of Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the period. Compass Financial Services Inc bought a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $33,000. Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications in the fourth quarter valued at $38,000. Finally, Cedar Mountain Advisors LLC raised its stake in shares of Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after purchasing an additional 839 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Kyle Malady sold 11,085 shares of Verizon Communications 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 sale, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 39,085 shares of company stock worth $1,582,995 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Verizon Communications Stock Down 1.3 %

VZ stock opened at $43.16 on Thursday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $45.36. 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 stock’s 50 day moving average is $40.07 and its 200-day moving average is $41.68. The firm has a market capitalization of $181.69 billion, a PE ratio of 10.43, a P/E/G ratio of 4.45 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 period in the prior year, the business posted $1.08 earnings per share. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.6775 dividend. 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 is presently 65.46%.

Analyst Ratings Changes

Several brokerages have recently commented on VZ. Royal Bank of Canada decreased their target price on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Argus upgraded Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft upped their price objective on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Finally, DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, January 29th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average price target of $46.08.

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).