Towerpoint Wealth LLC Buys Shares of 5,476 Verizon Communications Inc. (NYSE:VZ)

Towerpoint Wealth LLC purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,476 shares of the cell phone carrier’s stock, valued at approximately $206,000.

Other hedge funds have also recently made changes to their positions in the company. Portland Investment Counsel Inc. grew its position in shares of Verizon Communications by 173.7% during the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after purchasing an additional 413,869 shares in the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of Verizon Communications by 1.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after purchasing an additional 1,616 shares in the last quarter. 180 Wealth Advisors LLC grew its position in Verizon Communications by 6.2% in the third quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock worth $1,677,000 after acquiring an additional 3,020 shares in the last quarter. Fidelity D & D Bancorp Inc. purchased a new position in Verizon Communications in the third quarter worth $306,000. Finally, Regal Investment Advisors LLC grew its position in Verizon Communications by 24.1% in the third quarter. Regal Investment Advisors LLC now owns 183,615 shares of the cell phone carrier’s stock worth $5,951,000 after acquiring an additional 35,675 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the sale, the chief executive officer now owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Verizon Communications Trading Up 0.4 %

VZ stock traded up $0.17 during mid-day trading on Wednesday, reaching $42.71. The company had a trading volume of 4,141,040 shares, compared to its average volume of 19,954,049. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65. The company has a market capitalization of $179.56 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 3.43 and a beta of 0.41. The firm has a 50 day moving average of $40.74 and a 200 day moving average of $37.60. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.21.

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

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.23%. Verizon Communications’s payout ratio is presently 96.38%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VZ. Barclays upped their target price on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. UBS Group upped their price target on shares of Verizon Communications from $37.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and upped their price target for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Royal Bank of Canada upped their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Citigroup upped their price objective on shares of Verizon Communications from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Check Out 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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