Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,028 shares of the cell phone carrier’s stock after acquiring an additional 734 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Verizon Communications were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $28,000. Graney & King LLC acquired a new stake in Verizon Communications during the 4th quarter valued at $32,000. Compass Financial Services Inc acquired a new stake in Verizon Communications during the 4th quarter valued at $33,000. Banque Transatlantique SA purchased a new stake in shares of Verizon Communications in the fourth quarter valued at $35,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Verizon Communications in the fourth quarter worth $38,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Oppenheimer increased their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Tigress Financial upped their price objective on shares of Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Finally, Evercore ISI raised shares of Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Friday, April 11th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average price target of $47.41.

Insider Activity at Verizon Communications

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares of the company’s stock, valued at $633,159.61. The trade was a 40.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kyle Malady sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total transaction of $212,400.00. Following the transaction, the chief executive officer now directly owns 36,508 shares of the company’s stock, valued at $1,550,859.84. The trade was a 12.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock worth $1,376,300 over the last three months. Company insiders own 0.10% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $44.21 on Wednesday. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The company has a market cap of $186.40 billion, a P/E ratio of 10.68, a P/E/G ratio of 4.45 and a beta of 0.39. The business’s 50 day moving average is $43.63 and its two-hundred day moving average is $42.07. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. The firm had revenue of $33.50 billion during the quarter, compared to analysts’ expectations of $33.31 billion. On average, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date was Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 64.52%.

Verizon Communications 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).