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

SlateStone Wealth LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZGet Rating) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,378 shares of the cell phone carrier’s stock after acquiring an additional 863 shares during the quarter. SlateStone Wealth LLC’s holdings in Verizon Communications were worth $487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Econ Financial Services Corp purchased a new stake in shares of Verizon Communications during the fourth quarter worth $32,000. Carderock Capital Management Inc. acquired a new stake in Verizon Communications during the third quarter worth about $35,000. Ten Capital Wealth Advisors LLC boosted its holdings in Verizon Communications by 45.9% during the third quarter. Ten Capital Wealth Advisors LLC now owns 795 shares of the cell phone carrier’s stock valued at $43,000 after purchasing an additional 250 shares in the last quarter. Bell Investment Advisors Inc bought a new position in shares of Verizon Communications in the third quarter valued at approximately $46,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Verizon Communications by 43.4% in the fourth quarter. Iron Horse Wealth Management LLC now owns 988 shares of the cell phone carrier’s stock valued at $51,000 after acquiring an additional 299 shares during the last quarter. 62.93% of the stock is owned by hedge funds and other institutional investors.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $54.48, for a total transaction of $84,879.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Hans Erik Vestberg purchased 19,000 shares of the firm’s stock in a transaction on Wednesday, January 26th. The shares were purchased at an average cost of $52.55 per share, with a total value of $998,450.00. The disclosure for this purchase can be found here. 0.02% of the stock is currently owned by insiders.

Shares of VZ stock traded up $0.84 on Monday, hitting $54.37. 536,092 shares of the company’s stock traded hands, compared to its average volume of 24,276,723. The stock has a market capitalization of $228.24 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 3.64 and a beta of 0.39. Verizon Communications Inc. has a one year low of $49.69 and a one year high of $59.85. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.71 and a current ratio of 0.78. The company’s fifty day simple moving average is $52.85 and its 200 day simple moving average is $52.64.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings results on Tuesday, January 25th. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. Verizon Communications had a net margin of 16.51% and a return on equity of 28.94%. The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $33.98 billion. During the same period last year, the company posted $1.21 EPS. Verizon Communications’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 5.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 2nd. Stockholders of record on Friday, April 8th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Thursday, April 7th. Verizon Communications’s dividend payout ratio (DPR) is presently 48.03%.

Several research analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Verizon Communications in a research report on Thursday, March 31st. They issued a “hold” rating for the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $61.00 target price on shares of Verizon Communications in a research note on Friday, March 4th. JPMorgan Chase & Co. lowered shares of Verizon Communications from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $62.00 to $56.00 in a research note on Wednesday, January 26th. Tigress Financial upped their target price on shares of Verizon Communications from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Verizon Communications from $56.00 to $57.00 in a report on Tuesday, January 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and a consensus price target of $59.20.

About Verizon Communications (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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