HBW Advisory Services LLC Boosts Stake in Verizon Communications Inc. (NYSE:VZ)

HBW Advisory Services LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 110.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,144 shares of the cell phone carrier’s stock after acquiring an additional 13,726 shares during the period. HBW Advisory Services LLC’s holdings in Verizon Communications were worth $1,327,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rinkey Investments acquired a new position in shares of Verizon Communications during the fourth quarter worth about $27,000. Cordant Inc. acquired a new position in shares of Verizon Communications during the first quarter worth about $30,000. Lansing Street Advisors acquired a new position in shares of Verizon Communications during the first quarter worth about $35,000. Conrad Siegel Investment Advisors Inc. acquired a new position in shares of Verizon Communications during the first quarter worth about $36,000. Finally, Gibson Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total value of $80,112.36. Following the completion of the transaction, the executive vice president now directly owns 33,403 shares of the company’s stock, valued at approximately $1,717,582.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VZ shares. Scotiabank cut Verizon Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, July 22nd. Wolfe Research cut their price target on Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating on the stock in a research note on Thursday, June 2nd. Credit Suisse Group cut their price target on Verizon Communications from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 21st. Barclays cut Verizon Communications from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 22nd. Finally, Cowen cut their price target on Verizon Communications from $71.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.61.

Verizon Communications Stock Up 1.1 %

NYSE:VZ opened at $39.93 on Friday. The firm has a market capitalization of $167.69 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 1.89 and a beta of 0.36. The stock has a 50 day moving average of $44.00 and a 200-day moving average of $48.51. Verizon Communications Inc. has a 52 week low of $39.26 and a 52 week high of $55.51. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56.

Verizon Communications (NYSE:VZGet Rating) last posted its earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company posted $1.37 earnings per share. Analysts predict that Verizon Communications Inc. will post 5.19 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a $0.6525 dividend. This represents a $2.61 dividend on an annualized basis and a yield of 6.54%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, October 6th. Verizon Communications’s dividend payout ratio is 51.30%.

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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