Generali Asset Management SPA SGR Takes $18.90 Million Position in Verizon Communications Inc. (NYSE:VZ)

Generali Asset Management SPA SGR purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 472,729 shares of the cell phone carrier’s stock, valued at approximately $18,904,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kirtland Hills Capital Management LLC grew its position in Verizon Communications by 2.4% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock worth $439,000 after purchasing an additional 252 shares during the last quarter. First Dallas Securities Inc. lifted its position in Verizon Communications by 0.8% in the 3rd quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock worth $1,425,000 after buying an additional 257 shares in the last quarter. JB Capital LLC lifted its position in Verizon Communications by 1.3% in the 4th quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock worth $832,000 after buying an additional 258 shares in the last quarter. Curbstone Financial Management Corp raised its holdings in shares of Verizon Communications by 0.8% during the 4th quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock valued at $1,391,000 after purchasing an additional 262 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Verizon Communications by 9.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier’s stock valued at $117,000 after purchasing an additional 263 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

NYSE VZ opened at $43.69 on Tuesday. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The stock has a 50-day moving average of $41.09 and a 200 day moving average of $41.95. The company has a market capitalization of $183.90 billion, a price-to-earnings ratio of 10.55, 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.

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 previous year, the firm earned $1.08 earnings per share. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.20%. Verizon Communications’s dividend payout ratio is presently 65.46%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wolfe Research downgraded shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. UBS Group upped their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, Tigress Financial reissued a “buy” rating and set a $55.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.11.

Insider Buying and Selling

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,085 shares of company stock valued at $2,020,895. Corporate insiders own 0.02% of the company’s stock.

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).