Sherman Asset Management Inc. Makes New $112,000 Investment in Verizon Communications Inc. (NYSE:VZ)

Sherman Asset Management Inc. purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,811 shares of the cell phone carrier’s stock, valued at approximately $112,000.

A number of other large investors also recently bought and sold shares of the stock. Nichols & Pratt Advisers LLP MA raised its stake in Verizon Communications by 1.6% during the fourth quarter. Nichols & Pratt Advisers LLP MA now owns 741,090 shares of the cell phone carrier’s stock worth $29,636,000 after purchasing an additional 11,680 shares during the period. Chase Investment Counsel Corp raised its stake in shares of Verizon Communications by 3.1% in the 4th quarter. Chase Investment Counsel Corp now owns 12,106 shares of the cell phone carrier’s stock valued at $484,000 after acquiring an additional 363 shares during the period. Richard W. Paul & Associates LLC raised its stake in shares of Verizon Communications by 1.3% in the 4th quarter. Richard W. Paul & Associates LLC now owns 30,386 shares of the cell phone carrier’s stock valued at $1,215,000 after acquiring an additional 383 shares during the period. Fisher Asset Management LLC raised its stake in shares of Verizon Communications by 11.2% in the 4th quarter. Fisher Asset Management LLC now owns 74,370 shares of the cell phone carrier’s stock valued at $2,974,000 after acquiring an additional 7,502 shares during the period. Finally, WR Wealth Planners LLC raised its stake in shares of Verizon Communications by 9.6% in the 4th quarter. WR Wealth Planners LLC now owns 3,507 shares of the cell phone carrier’s stock valued at $140,000 after acquiring an additional 308 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.4 %

NYSE VZ opened at $43.12 on Friday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36. The company has a 50-day simple moving average of $40.20 and a 200-day simple moving average of $41.71. 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 firm has a market capitalization of $181.50 billion, a PE ratio of 10.41, a price-to-earnings-growth 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 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the business earned $1.08 earnings per share. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend payout ratio (DPR) is presently 65.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Royal Bank of Canada dropped their price target on shares of Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Tigress Financial reaffirmed a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.08.

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the completion of the transaction, the chief executive officer now directly owns 45,675 shares of the company’s stock, valued at $1,851,664.50. The trade was a 30.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,085 shares of company stock valued at $2,020,895. Company insiders own 0.02% of the company’s stock.

Verizon Communications 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).