Verizon Communications Inc. (NYSE:VZ) Stake Raised by WR Wealth Planners LLC

WR Wealth Planners LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,507 shares of the cell phone carrier’s stock after acquiring an additional 308 shares during the period. WR Wealth Planners LLC’s holdings in Verizon Communications were worth $140,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VZ. Swedbank AB increased its position in Verizon Communications by 0.8% in the 3rd quarter. Swedbank AB now owns 5,174,541 shares of the cell phone carrier’s stock worth $232,389,000 after purchasing an additional 39,403 shares during the last quarter. Principal Securities Inc. increased its position in Verizon Communications by 7.3% in the 3rd quarter. Principal Securities Inc. now owns 123,059 shares of the cell phone carrier’s stock worth $5,527,000 after purchasing an additional 8,351 shares during the last quarter. Focus Financial Network Inc. increased its position in Verizon Communications by 1.6% in the 3rd quarter. Focus Financial Network Inc. now owns 23,578 shares of the cell phone carrier’s stock worth $1,059,000 after purchasing an additional 364 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Verizon Communications by 1.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 38,365 shares of the cell phone carrier’s stock worth $1,723,000 after purchasing an additional 629 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC increased its position in Verizon Communications by 10.1% in the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 11,865 shares of the cell phone carrier’s stock worth $533,000 after purchasing an additional 1,085 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

VZ opened at $43.12 on Friday. The firm has a market capitalization of $181.50 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 4.45 and a beta of 0.45. The stock’s 50 day moving average price is $40.20 and its two-hundred day moving average price is $41.71. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period last year, the business posted $1.08 earnings per share. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.29%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VZ shares. Argus raised Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank upped their target price on Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Sanford C. Bernstein began coverage on Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price objective on the stock. UBS Group increased their price objective on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.08.

Insiders Place Their Bets

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kyle Malady sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $262,809.20. This trade represents a 54.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is currently owned by company insiders.

About Verizon Communications

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).