Peterson Wealth Services Has $1.34 Million Holdings in Verizon Communications Inc. (NYSE:VZ)

Peterson Wealth Services boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 15.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 29,547 shares of the cell phone carrier’s stock after buying an additional 3,853 shares during the quarter. Peterson Wealth Services’ holdings in Verizon Communications were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after buying an additional 16,704 shares during the period. Proficio Capital Partners LLC increased its holdings in Verizon Communications by 64.4% in the 4th quarter. Proficio Capital Partners LLC now owns 11,127 shares of the cell phone carrier’s stock valued at $445,000 after buying an additional 4,360 shares during the period. Sei Investments Co. increased its holdings in Verizon Communications by 1.7% in the 4th quarter. Sei Investments Co. now owns 3,104,574 shares of the cell phone carrier’s stock valued at $124,156,000 after buying an additional 50,559 shares during the period. Hillsdale Investment Management Inc. increased its holdings in Verizon Communications by 100.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 2,616 shares of the cell phone carrier’s stock valued at $105,000 after buying an additional 1,310 shares during the period. Finally, Fox Run Management L.L.C. increased its holdings in Verizon Communications by 60.7% in the 4th quarter. Fox Run Management L.L.C. now owns 20,386 shares of the cell phone carrier’s stock valued at $815,000 after buying an additional 7,702 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the transaction, the chief executive officer directly owned 10,008 shares of the company’s stock, valued at approximately $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 21,500 shares of company stock worth $938,400. 0.10% of the stock is owned by company insiders.

Verizon Communications Stock Performance

Shares of VZ stock opened at $40.77 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.61. The company has a market capitalization of $171.90 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 3.28 and a beta of 0.37. The company’s 50 day moving average price is $42.88 and its two-hundred day moving average price is $42.44. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.04. The company had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. On average, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.6775 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.65%. Verizon Communications’s dividend payout ratio is currently 64.52%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VZ shares. Morgan Stanley started coverage on shares of Verizon Communications in a report on Thursday, July 10th. They issued an “equal weight” rating and a $47.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Tigress Financial upped their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Bank of America started coverage on shares of Verizon Communications in a report on Monday, July 7th. They issued a “neutral” rating and a $45.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

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).