Janiczek Wealth Management LLC Raises Stake in Verizon Communications Inc. (NYSE:VZ)

Janiczek Wealth Management LLC increased its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 17.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,381 shares of the cell phone carrier’s stock after acquiring an additional 1,251 shares during the period. Janiczek Wealth Management LLC’s holdings in Verizon Communications were worth $352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Taylor Hoffman Wealth Management raised its position in shares of Verizon Communications by 32.9% in the 4th quarter. Taylor Hoffman Wealth Management now owns 9,353 shares of the cell phone carrier’s stock valued at $353,000 after purchasing an additional 2,314 shares in the last quarter. Leo Wealth LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at $3,346,000. WealthTrust Axiom LLC lifted its holdings in shares of Verizon Communications by 2.1% in the fourth quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier’s stock valued at $4,479,000 after buying an additional 2,422 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in shares of Verizon Communications by 1.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after purchasing an additional 1,616 shares during the last quarter. Finally, GFS Advisors LLC purchased a new stake in shares of Verizon Communications during the fourth quarter valued at $212,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Down 0.7 %

Shares of Verizon Communications stock traded down $0.30 during trading hours on Thursday, hitting $40.72. The company’s stock had a trading volume of 5,386,170 shares, compared to its average volume of 18,784,920. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The stock has a 50 day moving average of $40.04 and a 200 day moving average of $39.99. The company has a market capitalization of $171.40 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 2.98 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67.

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

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.53%. Verizon Communications’s dividend payout ratio is 99.25%.

Analyst Upgrades and Downgrades

VZ has been the subject of several research analyst reports. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a report on Tuesday, April 23rd. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. Royal Bank of Canada raised their price objective on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Finally, Tigress Financial raised their target price on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.77.

View Our Latest Analysis on VZ

Verizon Communications Company 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).

See Also

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

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