Metis Global Partners LLC Reduces Holdings in Verizon Communications Inc. (NYSE:VZ)

Metis Global Partners LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,402 shares of the cell phone carrier’s stock after selling 5,630 shares during the quarter. Metis Global Partners LLC’s holdings in Verizon Communications were worth $8,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of VZ. Capital Performance Advisors LLP purchased a new stake in Verizon Communications in the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. lifted its holdings in Verizon Communications by 69.6% in the 4th 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 during the period. Compass Financial Services Inc purchased a new stake in Verizon Communications in the 4th quarter worth approximately $33,000. Hager Investment Management Services LLC purchased a new stake in Verizon Communications in the 4th quarter worth approximately $38,000. Finally, Cedar Mountain Advisors LLC lifted its holdings in Verizon Communications by 655.5% in the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after buying an additional 839 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Insider Buying and Selling

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the sale, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kyle Malady sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 in the company, valued at approximately $262,809.20. This trade represents a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,085 shares of company stock valued at $2,020,895 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Verizon Communications Stock Down 0.4 %

VZ stock opened at $43.12 on Friday. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $45.36. The business has a fifty day moving average price of $40.20 and a 200-day moving average price of $41.71. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock has a market capitalization of $181.50 billion, a P/E ratio of 10.41, a P/E/G ratio of 4.45 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results 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 previous year, the firm posted $1.08 earnings per share. Equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.29%. Verizon Communications’s payout ratio is currently 65.46%.

Analyst Ratings Changes

Several research analysts have recently issued reports on VZ shares. Wolfe Research increased their target price on Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Tigress Financial restated a “buy” rating and issued a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, January 29th. Finally, UBS Group raised their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus 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).