110,675 Shares in Verizon Communications Inc. (VZ) Acquired by Strategic Wealth Advisors Group LLC
Strategic Wealth Advisors Group LLC bought a new stake in Verizon Communications Inc. (NYSE:VZ) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 110,675 shares of the cell phone carrier’s stock, valued at approximately $4,942,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $136,000. American Beacon Advisors Inc. acquired a new position in shares of Verizon Communications during the 1st quarter valued at $140,000. Proficio Capital Partners LLC increased its position in shares of Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after purchasing an additional 1,841 shares during the period. Private Vista LLC increased its position in shares of Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after purchasing an additional 378,225 shares during the period. Finally, Regal Wealth Group Inc. increased its position in shares of Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Several equities analysts have recently issued reports on VZ shares. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and lifted their price target for the company from $47.00 to $61.00 in a research report on Tuesday. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Cowen reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Tuesday, September 19th. Macquarie reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.43.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. sell-side analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s payout ratio is 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the completion of the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 1,830 shares of company stock valued at $88,609. 0.13% of the stock is currently owned by insiders.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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