HBW Advisory Services LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ – Get Rating) by 34.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,733 shares of the cell phone carrier’s stock after purchasing an additional 10,793 shares during the period. HBW Advisory Services LLC’s holdings in Verizon Communications were worth $1,623,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HBC Financial Services PLLC raised its stake in shares of Verizon Communications by 250.0% in the fourth quarter. HBC Financial Services PLLC now owns 700 shares of the cell phone carrier’s stock valued at $28,000 after acquiring an additional 500 shares during the last quarter. Kepos Capital LP bought a new position in shares of Verizon Communications in the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. raised its stake in shares of Verizon Communications by 111.8% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,057 shares of the cell phone carrier’s stock valued at $42,000 after acquiring an additional 558 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at approximately $42,000. Finally, Luken Investment Analytics LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at approximately $43,000. Institutional investors own 61.83% of the company’s stock.
Verizon Communications Price Performance
Shares of VZ stock opened at $36.46 on Tuesday. Verizon Communications Inc. has a 12-month low of $33.72 and a 12-month high of $52.18. The firm has a market capitalization of $153.28 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 2.10 and a beta of 0.37. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.49. The firm has a fifty day moving average of $36.84 and a 200-day moving average of $38.32.
Verizon Communications Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be issued a $0.6525 dividend. This represents a $2.61 annualized dividend and a dividend yield of 7.16%. The ex-dividend date is Friday, July 7th. Verizon Communications’s dividend payout ratio (DPR) is 50.78%.
Insider Activity at Verizon Communications
In related news, EVP Joseph J. Russo sold 7,585 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $36.30, for a total value of $275,335.50. Following the sale, the executive vice president now directly owns 8,582 shares of the company’s stock, valued at approximately $311,526.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Joseph J. Russo sold 7,585 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $36.30, for a total value of $275,335.50. Following the sale, the executive vice president now directly owns 8,582 shares of the company’s stock, valued at approximately $311,526.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig L. Silliman sold 3,342 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $38.00, for a total transaction of $126,996.00. Following the completion of the sale, the executive vice president now directly owns 76,355 shares in the company, valued at $2,901,490. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,267 shares of company stock valued at $533,293. 0.02% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
VZ has been the subject of a number of research reports. HSBC lowered their price target on shares of Verizon Communications from $42.50 to $39.00 in a report on Monday, June 5th. StockNews.com initiated coverage on shares of Verizon Communications in a report on Thursday, May 18th. They issued a “hold” rating for the company. Bank of America lowered their price target on shares of Verizon Communications from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, March 23rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $46.00 price target on shares of Verizon Communications in a report on Thursday, April 6th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.12.
Verizon Communications Company Profile
Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments. The Consumer segment provides consumer-focused wireless and wire line communications services and products.
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