Verizon Communications Inc. (NYSE:VZ) Shares Bought by Strategic Wealth Management Group LLC

Strategic Wealth Management Group LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,176 shares of the cell phone carrier’s stock after purchasing an additional 508 shares during the period. Strategic Wealth Management Group LLC’s holdings in Verizon Communications were worth $708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VZ. Klaas Financial Asset Advisors LLC purchased a new stake in shares of Verizon Communications in the fourth quarter worth about $26,000. New Capital Management LP lifted its holdings in Verizon Communications by 60.3% in the fourth quarter. New Capital Management LP now owns 481 shares of the cell phone carrier’s stock valued at $28,000 after acquiring an additional 181 shares during the period. Capital Directions Investment Advisors LLC grew its stake in shares of Verizon Communications by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 600 shares of the cell phone carrier’s stock worth $36,000 after purchasing an additional 300 shares during the period. Curi Capital purchased a new position in shares of Verizon Communications during the 4th quarter valued at approximately $40,000. Finally, Alpha DNA Investment Management LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 64.85% of the company’s stock.

In related news, EVP Craig L. Silliman sold 1,555 shares of Verizon Communications stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $58.53, for a total transaction of $91,014.15. Following the transaction, the executive vice president now owns 36,242 shares in the company, valued at $2,121,244.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.

VZ has been the topic of several analyst reports. Scotiabank lowered shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, February 25th. Bank of America restated a “buy” rating and set a $64.00 target price on shares of Verizon Communications in a research report on Thursday, March 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Verizon Communications in a report on Wednesday, March 3rd. Credit Suisse Group dropped their price objective on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Finally, Tigress Financial raised Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 30th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.06.

Shares of Verizon Communications stock traded down $0.11 during trading hours on Friday, reaching $57.49. 13,871,989 shares of the company’s stock were exchanged, compared to its average volume of 20,204,672. The business has a fifty day moving average of $56.76 and a two-hundred day moving average of $58.03. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $238.01 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. Verizon Communications Inc. has a 1 year low of $52.85 and a 1 year high of $61.95.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.04. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The company had revenue of $34.70 billion during the quarter, compared to analysts’ expectations of $34.47 billion. During the same quarter in the prior year, the company earned $1.13 EPS. Verizon Communications’s revenue was down .2% compared to the same quarter last year. As a group, research analysts predict that Verizon Communications Inc. will post 4.77 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Friday, April 9th will be given a $0.6275 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.37%. Verizon Communications’s dividend payout ratio (DPR) is presently 52.18%.

Verizon Communications Company Profile

Verizon Communications Inc offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices, such as smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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