TIAA Trust National Association Has $5.01 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

TIAA Trust National Association cut its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,917 shares of the cell phone carrier’s stock after selling 21,793 shares during the quarter. TIAA Trust National Association’s holdings in Verizon Communications were worth $5,011,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA grew its position in Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 565 shares in the last quarter. CGC Financial Services LLC bought a new position in Verizon Communications during the second quarter worth about $32,000. HBC Financial Services PLLC lifted its stake in Verizon Communications by 320.0% during the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after purchasing an additional 800 shares during the period. RVW Wealth LLC bought a new position in Verizon Communications during the third quarter worth about $36,000. Finally, Financial Management Professionals Inc. lifted its stake in Verizon Communications by 58.4% during the fourth quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock worth $41,000 after purchasing an additional 404 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

VZ stock opened at $42.55 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65. The company has a 50 day moving average price of $40.74 and a 200 day moving average price of $37.53. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.21. The stock has a market capitalization of $178.89 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 3.40 and a beta of 0.41.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The firm had revenue of $35.10 billion during the quarter, compared to analysts’ expectations of $34.60 billion. During the same quarter in the previous year, the company posted $1.19 EPS. Verizon Communications’s revenue was down .6% on a year-over-year basis. Analysts forecast that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 6.25%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 96.38%.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the sale, the chief executive officer now owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VZ has been the subject of a number of analyst reports. Oppenheimer restated an “outperform” rating and set a $43.00 price target on shares of Verizon Communications in a research note on Tuesday, December 19th. Citigroup raised their price target on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Royal Bank of Canada raised their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $36.00 to $47.00 in a research note on Wednesday, January 24th. Finally, KeyCorp lifted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $44.14.

Get Our Latest Stock Report on Verizon Communications

Verizon Communications Profile

(Free Report)

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).

Further Reading

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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