Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 19.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,179,928 shares of the cell phone carrier’s stock after acquiring an additional 189,520 shares during the quarter. Cerity Partners LLC’s holdings in Verizon Communications were worth $44,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Priebe Wealth Holdings LLC bought a new position in Verizon Communications in the 4th quarter worth about $262,000. Cedrus LLC boosted its stake in Verizon Communications by 8.1% in the 4th quarter. Cedrus LLC now owns 11,073 shares of the cell phone carrier’s stock worth $417,000 after purchasing an additional 832 shares during the period. Harbor Investment Advisory LLC boosted its stake in Verizon Communications by 8.3% in the 4th quarter. Harbor Investment Advisory LLC now owns 21,925 shares of the cell phone carrier’s stock worth $827,000 after purchasing an additional 1,681 shares during the period. Safeguard Investment Advisory Group LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at $246,000. Finally, Mendel Capital Management LLC boosted its stake in shares of Verizon Communications by 3.1% during the 4th quarter. Mendel Capital Management LLC now owns 21,645 shares of the cell phone carrier’s stock valued at $816,000 after buying an additional 654 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $40.33, for a total transaction of $604,950.00. Following the sale, the chief executive officer now directly owns 59,201 shares in the company, valued at $2,387,576.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on VZ shares. Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $36.00 to $47.00 in a report on Wednesday, January 24th. Wells Fargo & Company lifted their target price on shares of Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Oppenheimer restated an “outperform” rating and set a $48.00 price objective on shares of Verizon Communications in a report on Wednesday, April 3rd. Raymond James boosted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Verizon Communications Price Performance

Shares of VZ stock opened at $40.13 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $168.72 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 3.31 and a beta of 0.41. The firm’s 50 day moving average is $40.65 and its 200-day moving average is $37.93. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. The firm had revenue of $35.10 billion during 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 business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Sell-side analysts forecast that Verizon Communications Inc. will post 4.58 EPS 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 issued a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.63%. Verizon Communications’s payout ratio is 96.38%.

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).