Orion Portfolio Solutions LLC Purchases 10,873 Shares of Verizon Communications Inc. (NYSE:VZ)

Orion Portfolio Solutions LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 6.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 176,397 shares of the cell phone carrier’s stock after purchasing an additional 10,873 shares during the period. Orion Portfolio Solutions LLC’s holdings in Verizon Communications were worth $7,054,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth about $28,000. Legend Financial Advisors Inc. raised its holdings in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 320 shares during the period. Graney & King LLC acquired a new stake in Verizon Communications during the fourth quarter worth approximately $32,000. Compass Financial Services Inc bought a new stake in shares of Verizon Communications during the fourth quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Verizon Communications in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.0 %

Shares of NYSE VZ opened at $44.96 on Friday. The stock has a 50-day moving average price of $42.11 and a two-hundred day moving average price of $42.08. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a market cap of $189.25 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the company posted $1.08 earnings per share. As a group, analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.03%. Verizon Communications’s dividend payout ratio is presently 65.46%.

Insider Activity

In other news, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Malady sold 11,085 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the sale, the chief executive officer now owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group lifted their price target on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Tigress Financial restated a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. Finally, Scotiabank lifted their price target on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a research report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Verizon Communications Profile

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).