Powers Advisory Group LLC Buys 613 Shares of Verizon Communications Inc. (NYSE:VZ)

Powers Advisory Group LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,155 shares of the cell phone carrier’s stock after purchasing an additional 613 shares during the period. Powers Advisory Group LLC’s holdings in Verizon Communications were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Mainstream Capital Management LLC bought a new stake in Verizon Communications in the fourth quarter worth about $28,000. Mattson Financial Services LLC raised its holdings in shares of Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 415 shares during the period. Graney & King LLC bought a new stake in shares of Verizon Communications during the 4th quarter worth approximately $32,000. Capital A Wealth Management LLC purchased a new position in Verizon Communications during the 4th quarter valued at $32,000. Finally, Banque Transatlantique SA bought a new position in Verizon Communications in the 4th quarter valued at $35,000. 62.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VZ has been the subject of a number of recent analyst reports. 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. 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 report on Tuesday, March 25th. Wolfe Research downgraded shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Tigress Financial lifted their price target 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, Oppenheimer increased their price objective on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.41.

Verizon Communications Price Performance

VZ opened at $42.96 on Friday. The firm has a market capitalization of $181.11 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 4.45 and a beta of 0.38. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The business’s 50-day moving average is $43.43 and its two-hundred day moving average is $42.29. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $33.31 billion. Research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend is Thursday, July 10th. Verizon Communications’s payout ratio is presently 64.52%.

Insider Transactions at Verizon Communications

In other Verizon Communications news, 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 value of $212,400.00. Following the completion of the sale, the chief executive officer now owns 36,508 shares of the company’s stock, valued at approximately $1,550,859.84. This trade represents a 12.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 21,500 shares of company stock valued at $938,400. Corporate insiders own 0.10% of the company’s stock.

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).