Central Valley Advisors LLC Invests $570,000 in Verizon Communications Inc. (NYSE:VZ)

Central Valley Advisors LLC purchased a new stake in Verizon Communications Inc. (NYSE:VZFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 15,120 shares of the cell phone carrier’s stock, valued at approximately $570,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. LFA Lugano Financial Advisors SA raised its stake in shares of Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 565 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Verizon Communications in the 4th quarter worth $25,000. Morton Brown Family Wealth LLC increased its holdings in Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after purchasing an additional 488 shares during the last quarter. HBC Financial Services PLLC increased its holdings in Verizon Communications by 320.0% in the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock valued at $34,000 after purchasing an additional 800 shares during the last quarter. Finally, Cetera Trust Company N.A acquired a new position in Verizon Communications in the fourth quarter valued at about $37,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the sale, the chief executive officer now owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on VZ. Barclays increased their price target on shares of Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Tigress Financial lifted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp raised their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Oppenheimer reissued an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, Citigroup raised their price target on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $44.36.

Get Our Latest Stock Report on VZ

Verizon Communications Stock Down 1.2 %

Shares of NYSE:VZ traded down $0.47 during trading on Tuesday, hitting $39.65. 18,324,866 shares of the company were exchanged, compared to its average volume of 19,342,398. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.42. The stock has a market cap of $166.90 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 2.91 and a beta of 0.42. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average price of $40.34 and a two-hundred day moving average price of $39.38.

Verizon Communications (NYSE:VZGet Free Report) last issued its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date was Tuesday, April 9th. Verizon Communications’s payout ratio is currently 99.25%.

Verizon Communications Company Profile

(Free Report)

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).

Further Reading

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

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