Buck Wealth Strategies LLC Buys 38,207 Shares of Verizon Communications Inc. (NYSE:VZ)

Buck Wealth Strategies LLC increased its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 22.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,642 shares of the cell phone carrier’s stock after purchasing an additional 38,207 shares during the quarter. Verizon Communications accounts for 2.9% of Buck Wealth Strategies LLC’s holdings, making the stock its 9th largest holding. Buck Wealth Strategies LLC’s holdings in Verizon Communications were worth $7,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of VZ. BCK Partners Inc. purchased a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $2,101,000. Axiom Financial Strategies LLC increased its holdings in Verizon Communications by 8.9% in the first quarter. Axiom Financial Strategies LLC now owns 5,980 shares of the cell phone carrier’s stock valued at $279,000 after buying an additional 487 shares during the last quarter. Ergoteles LLC raised its stake in Verizon Communications by 174.0% in the first quarter. Ergoteles LLC now owns 91,776 shares of the cell phone carrier’s stock valued at $4,675,000 after buying an additional 58,283 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Verizon Communications by 10.5% during the 1st quarter. Mackenzie Financial Corp now owns 1,194,111 shares of the cell phone carrier’s stock worth $60,828,000 after buying an additional 113,032 shares during the last quarter. Finally, First Western Trust Bank purchased a new position in shares of Verizon Communications in the 1st quarter valued at about $567,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

NYSE:VZ traded up $0.27 during mid-day trading on Tuesday, reaching $42.55. The stock had a trading volume of 17,254,848 shares, compared to its average volume of 20,210,395. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.21. The business has a 50 day simple moving average of $40.74 and a 200 day simple moving average of $37.53. The firm has a market capitalization of $178.89 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 3.40 and a beta of 0.41. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The firm had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. During the same period in the previous year, the business earned $1.19 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 96.38%.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the sale, the chief executive officer now owns 35,201 shares in the company, valued at approximately $1,436,200.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VZ. Wells Fargo & Company upped their price target on Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. UBS Group lifted their target price on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Wolfe Research raised Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research report on Thursday, January 4th. Royal Bank of Canada lifted their price target on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Raymond James increased their price objective on Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average price target of $44.14.

View Our Latest Stock Analysis on Verizon Communications

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).

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

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