Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Venture Visionary Partners LLC
Venture Visionary Partners LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 42.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,542 shares of the cell phone carrier’s stock after buying an additional 1,946 shares during the period. Venture Visionary Partners LLC’s holdings in Verizon Communications were worth $351,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in VZ. Danda Trouve Investment Management Inc. acquired a new stake in Verizon Communications in the fourth quarter valued at approximately $25,000. Lionsbridge Wealth Management LLC acquired a new position in shares of Verizon Communications during the 4th quarter worth approximately $32,000. HighMark Wealth Management LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at approximately $33,000. AlphaCore Capital LLC acquired a new stake in Verizon Communications in the 1st quarter valued at $35,000. Finally, Permanens Capital L.P. purchased a new stake in Verizon Communications in the 4th quarter worth $37,000. Institutional investors own 66.77% of the company’s stock.
Shares of NYSE:VZ opened at $54.71 on Friday. Verizon Communications Inc. has a 52-week low of $48.84 and a 52-week high of $62.22. The stock has a market cap of $235.87 billion, a P/E ratio of 12.35, a PEG ratio of 3.82 and a beta of 0.48. The business has a fifty day moving average of $56.24 and a two-hundred day moving average of $58.30. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 2.02.
The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Monday, April 13th were issued a $0.615 dividend. The ex-dividend date was Thursday, April 9th. This represents a $2.46 annualized dividend and a yield of 4.50%. Verizon Communications’s payout ratio is 51.14%.
Verizon Communications declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 6th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the cell phone carrier to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
Several equities analysts have issued reports on VZ shares. Credit Suisse Group decreased their price objective on shares of Verizon Communications from $65.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Moffett Nathanson reaffirmed a “hold” rating and issued a $58.00 price target on shares of Verizon Communications in a research note on Thursday, January 30th. Citigroup lifted their price objective on Verizon Communications from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. SunTrust Banks increased their target price on Verizon Communications from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Deutsche Bank started coverage on Verizon Communications in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $63.00 target price on the stock. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and an average target price of $61.44.
In other news, SVP Anthony T. Skiadas sold 10,744 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $57.10, for a total transaction of $613,482.40. Following the completion of the sale, the senior vice president now owns 27,501 shares in the company, valued at approximately $1,570,307.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.
Verizon Communications 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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