Verizon Communications Inc. (NYSE:VZ) is Windle Wealth LLC’s 10th Largest Position

Windle Wealth LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 8.2% in the 1st quarter, HoldingsChannel reports. The fund owned 183,890 shares of the cell phone carrier’s stock after purchasing an additional 13,888 shares during the quarter. Verizon Communications makes up approximately 4.3% of Windle Wealth LLC’s holdings, making the stock its 10th biggest holding. Windle Wealth LLC’s holdings in Verizon Communications were worth $8,341,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Verizon Communications by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 363,824,525 shares of the cell phone carrier’s stock worth $14,549,343,000 after purchasing an additional 5,697,337 shares in the last quarter. Geode Capital Management LLC lifted its stake in Verizon Communications by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 96,823,092 shares of the cell phone carrier’s stock worth $3,862,441,000 after purchasing an additional 998,847 shares in the last quarter. Norges Bank acquired a new position in Verizon Communications during the fourth quarter worth $2,300,846,000. Northern Trust Corp lifted its stake in Verizon Communications by 12.4% during the fourth quarter. Northern Trust Corp now owns 45,043,310 shares of the cell phone carrier’s stock worth $1,801,282,000 after purchasing an additional 4,951,733 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Verizon Communications by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier’s stock worth $1,555,351,000 after buying an additional 4,568,518 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of NYSE:VZ traded up $1.54 during trading on Monday, hitting $42.38. 9,402,149 shares of the stock were exchanged, compared to its average volume of 20,226,574. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $47.36. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average price of $42.88 and a two-hundred day moving average price of $42.44. The company has a market cap of $178.66 billion, a PE ratio of 10.06, a P/E/G ratio of 3.28 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the prior year, the company earned $1.15 EPS. Verizon Communications’s revenue was up 5.2% on a year-over-year basis. On average, analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.6775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.40%. Verizon Communications’s payout ratio is 64.52%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on VZ shares. Oppenheimer increased their price objective on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Tigress Financial increased their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, Scotiabank raised their price target on Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 21,500 shares of company stock valued at $938,400 in the last ninety days. 0.10% of the stock is currently owned by insiders.

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).