Roberts Wealth Advisors LLC Increases Stock Position in Verizon Communications Inc. (NYSE:VZ)

Roberts Wealth Advisors LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 1.9% during the first quarter, HoldingsChannel.com reports. The fund owned 66,107 shares of the cell phone carrier’s stock after buying an additional 1,246 shares during the quarter. Verizon Communications accounts for about 1.4% of Roberts Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest position. Roberts Wealth Advisors LLC’s holdings in Verizon Communications were worth $3,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Verizon Communications in the fourth quarter worth approximately $1,884,917,000. Fisher Asset Management LLC boosted its holdings in shares of Verizon Communications by 19,095.1% in the fourth quarter. Fisher Asset Management LLC now owns 9,778,922 shares of the cell phone carrier’s stock worth $508,113,000 after buying an additional 9,727,977 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Verizon Communications by 8.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,847,194 shares of the cell phone carrier’s stock worth $2,953,781,000 after buying an additional 4,571,857 shares during the last quarter. State Street Corp boosted its holdings in shares of Verizon Communications by 2.6% in the fourth quarter. State Street Corp now owns 170,483,451 shares of the cell phone carrier’s stock worth $8,858,320,000 after buying an additional 4,312,242 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Verizon Communications by 244.7% in the fourth quarter. Renaissance Technologies LLC now owns 5,848,271 shares of the cell phone carrier’s stock worth $303,876,000 after buying an additional 4,151,749 shares during the last quarter. 63.78% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications stock opened at $50.79 on Thursday. The stock has a market cap of $213.30 billion, a P/E ratio of 9.86, a PEG ratio of 2.52 and a beta of 0.41. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. Verizon Communications Inc. has a 1 year low of $45.55 and a 1 year high of $56.85. The firm’s 50 day moving average price is $50.12 and its 200-day moving average price is $51.82.

Verizon Communications (NYSE:VZGet Rating) last released its quarterly earnings data on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.35. The firm had revenue of $33.60 billion for the quarter, compared to analysts’ expectations of $33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 earnings per share. As a group, equities analysts expect that Verizon Communications Inc. will post 5.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 5.04%. The ex-dividend date is Thursday, July 7th. Verizon Communications’s dividend payout ratio is presently 49.71%.

VZ has been the topic of a number of research reports. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $61.00 to $55.00 in a report on Monday, April 25th. Royal Bank of Canada lowered their price target on shares of Verizon Communications from $57.00 to $54.00 in a report on Wednesday. Wolfe Research lowered their price target on shares of Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating on the stock in a report on Thursday, June 2nd. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Finally, William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.60.

In other Verizon Communications news, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the completion of the transaction, the chief executive officer now directly owns 21,817 shares of the company’s stock, valued at $1,085,832.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction on Monday, April 4th. The stock was sold at an average price of $52.00, for a total transaction of $81,016.00. Following the transaction, the executive vice president now directly owns 38,077 shares of the company’s stock, valued at $1,980,004. The disclosure for this sale can be found here. Insiders sold 28,321 shares of company stock worth $1,415,192 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

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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