Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Evernest Financial Advisors LLC

Evernest Financial Advisors LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,102 shares of the cell phone carrier’s stock after buying an additional 667 shares during the period. Evernest Financial Advisors LLC’s holdings in Verizon Communications were worth $367,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. grew its position in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC grew its holdings in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 244 shares during the period. Garde Capital Inc. purchased a new position in Verizon Communications during the first quarter valued at approximately $26,000. Accent Capital Management LLC acquired a new position in Verizon Communications in the first quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC grew its stake in shares of Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 415 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 0.8%

Shares of VZ opened at $42.35 on Thursday. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The stock has a fifty day simple moving average of $42.71 and a two-hundred day simple moving average of $42.75. The company has a market capitalization of $178.54 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 3.29 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. Verizon Communications’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.4%. The ex-dividend date was Thursday, July 10th. Verizon Communications’s dividend payout ratio is presently 63.17%.

Analyst Upgrades and Downgrades

VZ has been the subject of several analyst reports. Evercore ISI upgraded 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 raised their target price on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Scotiabank raised their price objective on Verizon Communications from $48.50 to $49.00 and gave the company a “sector perform” rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.35.

About Verizon Communications

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).