Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Buck Wealth Strategies LLC

Buck Wealth Strategies LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 portfolio, 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 SEC filing.

Other hedge funds have also modified their holdings of the company. Certified Advisory Corp increased its holdings in shares of Verizon Communications by 1.0% during the first quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock worth $1,187,000 after buying an additional 233 shares in the last quarter. Pacifica Partners Inc. increased its holdings in Verizon Communications by 4.6% during the 4th quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after purchasing an additional 255 shares in the last quarter. Selective Wealth Management Inc. raised its position in Verizon Communications by 2.8% in the 4th quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after purchasing an additional 257 shares during the last quarter. Horizon Bancorp Inc. IN boosted its stake in Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after purchasing an additional 258 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in shares of Verizon Communications by 2.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after purchasing an additional 260 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research report on Thursday, January 4th. KeyCorp increased their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. 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 research report on Wednesday, January 24th. Daiwa Capital Markets upgraded Verizon Communications from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada boosted their target price on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.14.

Read Our Latest Report on VZ

Verizon Communications Trading Up 0.6 %

Shares of VZ stock traded up $0.27 on Tuesday, reaching $42.55. The company had a trading volume of 17,254,848 shares, compared to its average volume of 20,210,395. The stock has a market cap of $178.89 billion, a PE ratio of 15.43, a PEG ratio of 3.40 and a beta of 0.41. The company has a 50-day moving average of $40.74 and a 200-day moving average of $37.53. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. 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, 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. On average, equities analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Dividend Announcement

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

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $40.33, for a total transaction of $604,950.00. Following the completion of the transaction, the chief executive officer now owns 59,201 shares of the company’s stock, valued at $2,387,576.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

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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