Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,615 shares of the cell phone carrier’s stock after acquiring an additional 1,512 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Verizon Communications were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

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

Verizon Communications Stock Up 0.9 %

Shares of NYSE:VZ opened at $40.49 on Friday. The firm has a market cap of $170.23 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 3.27 and a beta of 0.41. The company has a fifty day simple moving average of $40.56 and a 200 day simple moving average of $38.24. 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 $43.42.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $35.10 billion during the quarter, compared to analyst estimates of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company 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 $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 6.57%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 96.38%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 15,000 shares of Verizon Communications stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $40.33, for a total value of $604,950.00. Following the completion of the transaction, the chief executive officer now owns 59,201 shares in the company, valued at approximately $2,387,576.33. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and increased their price target for the company from $33.00 to $39.00 in a report on Friday, March 22nd. KeyCorp increased their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Royal Bank of Canada boosted their price target on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Citigroup upped their price target on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Tigress Financial lifted their price objective on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Verizon Communications Company Profile

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).