Accurate Wealth Management LLC Has $1.71 Million Holdings in Verizon Communications Inc. (NYSE:VZ)

Accurate Wealth Management LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,106 shares of the cell phone carrier’s stock after acquiring an additional 1,951 shares during the quarter. Accurate Wealth Management LLC’s holdings in Verizon Communications were worth $1,710,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Mainstream Capital Management LLC acquired a new position in Verizon Communications during the fourth quarter worth approximately $28,000. Mattson Financial Services LLC increased its holdings in shares of Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. Graney & King LLC bought a new stake in Verizon Communications in the 4th quarter valued at $32,000. Capital A Wealth Management LLC acquired a new stake in Verizon Communications during the 4th quarter valued at $32,000. Finally, Banque Transatlantique SA bought a new position in Verizon Communications during the fourth quarter worth $35,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 7,500 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total value of $329,100.00. Following the completion of the transaction, the chief executive officer now owns 19,008 shares in the company, valued at $834,071.04. This represents a 28.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 21,500 shares of company stock worth $938,400. Insiders own 0.10% of the company’s stock.

Verizon Communications Stock Down 0.3%

Shares of VZ opened at $43.66 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The company has a market cap of $184.09 billion, a P/E ratio of 10.55, a P/E/G ratio of 4.45 and a beta of 0.38. The firm has a 50 day simple moving average of $43.42 and a two-hundred day simple moving average of $42.28.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. Research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.21%. Verizon Communications’s dividend payout ratio (DPR) is presently 64.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Wolfe Research cut Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Evercore ISI raised Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Friday, April 11th. Finally, Wall Street Zen cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.41.

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).