Sunpointe LLC Invests $463,000 in Verizon Communications Inc. (NYSE:VZ)

Sunpointe LLC acquired a new position in Verizon Communications Inc. (NYSE:VZFree Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 12,287 shares of the cell phone carrier’s stock, valued at approximately $463,000.

Other institutional investors have also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA grew its position in shares of Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 565 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $29,000. Morton Brown Family Wealth LLC grew its position in shares of Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares in the last quarter. Finally, Cetera Trust Company N.A purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $37,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.3 %

Shares of VZ stock traded down $0.10 on Friday, reaching $39.68. 10,478,723 shares of the company’s stock were exchanged, compared to its average volume of 18,766,416. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $43.42. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $167.02 billion, a PE ratio of 14.81, a P/E/G ratio of 2.89 and a beta of 0.42. The company’s fifty day simple moving average is $40.03 and its 200 day simple moving average is $39.85.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. During the same period last year, the company earned $1.20 EPS. Verizon Communications’s quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts forecast that Verizon Communications Inc. will post 4.59 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analyst Ratings Changes

Several research firms have weighed in on VZ. Tigress Financial raised their price target on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. Wells Fargo & Company cut their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Royal Bank of Canada raised their price target on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, April 2nd. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Finally, Oppenheimer restated an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $44.77.

View Our Latest Report on VZ

Verizon Communications Profile

(Free Report)

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).

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

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