TBH Global Asset Management LLC Sells 1,413 Shares of Verizon Communications Inc. (NYSE:VZ)

TBH Global Asset Management LLC reduced its position in Verizon Communications Inc. (NYSE:VZ) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,107 shares of the cell phone carrier’s stock after selling 1,413 shares during the quarter. TBH Global Asset Management LLC’s holdings in Verizon Communications were worth $1,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Verizon Communications by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after acquiring an additional 5,936,009 shares during the period. International Assets Investment Management LLC raised its position in Verizon Communications by 4,520.3% in the third quarter. International Assets Investment Management LLC now owns 4,815,534 shares of the cell phone carrier’s stock worth $216,266,000 after purchasing an additional 4,711,309 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Verizon Communications in the third quarter worth about $177,799,000. Assenagon Asset Management S.A. lifted its stake in Verizon Communications by 184.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,428,540 shares of the cell phone carrier’s stock worth $217,087,000 after purchasing an additional 3,519,258 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Verizon Communications by 77.1% during the third quarter. Janus Henderson Group PLC now owns 6,101,616 shares of the cell phone carrier’s stock valued at $274,052,000 after purchasing an additional 2,656,396 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 11,085 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the transaction, the chief executive officer now owns 14,590 shares of the company’s stock, valued at $596,439.20. This represents a 43.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 39,085 shares of company stock valued at $1,582,995. 0.02% of the stock is currently owned by insiders.

Verizon Communications Trading Up 2.0 %

VZ stock opened at $42.04 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $45.36. The company has a market cap of $176.95 billion, a P/E ratio of 10.15, a PEG ratio of 4.28 and a beta of 0.45. The business has a fifty day moving average of $39.89 and a 200-day moving average of $41.58.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share 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 firm earned $1.08 EPS. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors 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 annualized dividend and a yield of 6.45%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, January 29th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. KeyCorp cut shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock 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).