GPS Wealth Strategies Group LLC raised its position in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,954 shares of the cell phone carrier’s stock after buying an additional 3,641 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Verizon Communications were worth $2,035,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of VZ. Rinkey Investments bought a new position in shares of Verizon Communications during the 4th quarter valued at approximately $27,000. Econ Financial Services Corp bought a new position in shares of Verizon Communications during the 4th quarter valued at approximately $32,000. Gibson Wealth Advisors LLC bought a new position in shares of Verizon Communications during the 4th quarter valued at approximately $37,000. Morton Brown Family Wealth LLC grew its position in shares of Verizon Communications by 109.2% during the 1st quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock valued at $37,000 after acquiring an additional 379 shares during the period. Finally, Rather & Kittrell Inc. bought a new position in shares of Verizon Communications during the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 63.78% of the company’s stock.
A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and reduced their target price for the company from $61.00 to $55.00 in a research report on Monday, April 25th. JPMorgan Chase & Co. reissued a “hold” rating and set a $57.00 target price on shares of Verizon Communications in a research report on Friday, June 24th. Wolfe Research cut their price objective on shares of Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating for the company in a report on Thursday, June 2nd. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Finally, William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.14.
In other news, CEO Tami A. Erwin sold 23,647 shares of the firm’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the sale, the chief executive officer now owns 21,817 shares in the company, valued at approximately $1,085,832.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $50.94, for a total transaction of $79,364.52. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,780,913.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,763 shares of company stock worth $1,334,176. Corporate insiders own 0.10% of the company’s stock.
Shares of NYSE:VZ opened at $51.64 on Monday. The firm has a fifty day moving average price of $49.75 and a two-hundred day moving average price of $51.86. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. Verizon Communications Inc. has a one year low of $45.55 and a one year high of $56.85. The company has a market cap of $216.87 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.66 and a beta of 0.40.
Verizon Communications (NYSE:VZ – Get Rating) last announced its quarterly earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The firm had revenue of $33.60 billion during the quarter, compared to the consensus estimate of $33.61 billion. During the same period last year, the firm earned $1.31 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Verizon Communications Inc. will post 5.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Thursday, July 7th. Verizon Communications’s dividend payout ratio (DPR) is currently 49.71%.
Verizon Communications Profile (Get Rating)
Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.
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