Nelson Van Denburg & Campbell Wealth Management Group LLC Has $2.21 Million Stock Position in Verizon Communications Inc. (NYSE:VZ)

Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,048 shares of the cell phone carrier’s stock after acquiring an additional 3,332 shares during the quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Verizon Communications were worth $2,214,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Centaurus Financial Inc. lifted its position in shares of Verizon Communications by 18.2% in the first quarter. Centaurus Financial Inc. now owns 1,476 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 227 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Verizon Communications during the second quarter valued at approximately $25,000. Global Trust Asset Management LLC lifted its stake in shares of Verizon Communications by 271.2% during the second quarter. Global Trust Asset Management LLC now owns 19,115 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 13,966 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in shares of Verizon Communications during the second quarter valued at approximately $29,000. Finally, Evolution Wealth Advisors LLC purchased a new position in shares of Verizon Communications during the second quarter valued at approximately $31,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Tami A. Erwin sold 17,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $57.75, for a total value of $981,750.00. Following the completion of the sale, the chief executive officer now owns 853 shares of the company’s stock, valued at $49,260.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $56.55, for a total transaction of $76,285.95. Following the completion of the sale, the executive vice president now directly owns 24,030 shares of the company’s stock, valued at approximately $1,358,896.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,047 shares of company stock worth $1,212,038. 0.03% of the stock is currently owned by insiders.

Several brokerages recently issued reports on VZ. Citigroup set a $62.00 price objective on shares of Verizon Communications and gave the company a “hold” rating in a research note on Tuesday, September 10th. UBS Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target on the stock. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Monday, September 2nd. Finally, Oppenheimer raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Tuesday, August 27th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $60.96.

NYSE:VZ traded up $0.31 during trading hours on Friday, reaching $60.29. 489,837 shares of the company were exchanged, compared to its average volume of 10,365,848. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.87 and a quick ratio of 0.84. The firm has a market cap of $247.61 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.87 and a beta of 0.52. Verizon Communications Inc. has a 52-week low of $52.28 and a 52-week high of $61.58. The stock has a 50 day simple moving average of $57.31 and a 200 day simple moving average of $57.55.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $32.42 billion. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. Verizon Communications’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. On average, analysts predict that Verizon Communications Inc. will post 4.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.615 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.46 dividend on an annualized basis and a yield of 4.08%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.60. Verizon Communications’s dividend payout ratio (DPR) is currently 51.17%.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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