Miramar Capital LLC Purchases 3,192 Shares of Verizon Communications Inc. (NYSE:VZ)

Miramar Capital LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 448,817 shares of the cell phone carrier’s stock after purchasing an additional 3,192 shares during the quarter. Verizon Communications comprises approximately 4.3% of Miramar Capital LLC’s investment portfolio, making the stock its 5th biggest position. Miramar Capital LLC’s holdings in Verizon Communications were worth $17,948,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in Verizon Communications during the fourth quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new stake in Verizon Communications during the third quarter worth approximately $31,000. Legend Financial Advisors Inc. grew its position in Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 320 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Verizon Communications during the fourth quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in Verizon Communications during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 4.3 %

Shares of VZ opened at $46.13 on Friday. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $46.20. The stock has a market capitalization of $194.20 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 4.45 and a beta of 0.41. 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 stock has a fifty day moving average of $40.61 and a 200-day moving average of $41.83.

Verizon Communications (NYSE:VZ) last announced its earnings results 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 prior year, the business earned $1.08 EPS. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s dividend payout ratio is currently 65.46%.

Insider Buying and Selling

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the 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 sale, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kyle Malady sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock valued at $2,020,895 in the last three months. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VZ shares. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, January 29th. UBS Group raised their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft raised their target price on Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reduced their target price on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $46.11.

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).