Parvin Asset Management LLC Takes Position in Verizon Communications Inc. (NYSE:VZ)

Parvin Asset Management LLC acquired a new stake in Verizon Communications Inc. (NYSE:VZ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,719 shares of the cell phone carrier’s stock, valued at approximately $629,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Kirtland Hills Capital Management LLC boosted its holdings in Verizon Communications by 2.4% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after purchasing an additional 252 shares during the period. JB Capital LLC grew its position in Verizon Communications by 1.3% in the 4th quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock worth $832,000 after purchasing an additional 258 shares during the last quarter. Curbstone Financial Management Corp grew its position in Verizon Communications by 0.8% in the 4th quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock worth $1,391,000 after purchasing an additional 262 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Verizon Communications by 9.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier’s stock worth $117,000 after purchasing an additional 263 shares during the last quarter. Finally, Tower Wealth Partners Inc. grew its position in Verizon Communications by 2.6% in the 4th quarter. Tower Wealth Partners Inc. now owns 10,483 shares of the cell phone carrier’s stock worth $419,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE:VZ opened at $42.94 on Wednesday. The firm has a market cap of $184.21 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. 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 company’s 50-day moving average price is $43.66 and its two-hundred day moving average price is $41.96.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is presently 64.52%.

Analysts Set New Price Targets

Several research firms have issued reports on VZ. Scotiabank raised their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Argus upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Oppenheimer raised their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Finally, DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, January 29th. Nine equities research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.41.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were 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 of the company’s stock, valued at approximately $262,809.20. The trade was a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,000 shares of company stock valued at $969,340. Insiders own 0.10% of the company’s stock.

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).