Cladis Investment Advisory LLC Has $2.67 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Cladis Investment Advisory LLC grew its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,726 shares of the cell phone carrier’s stock after purchasing an additional 935 shares during the quarter. Verizon Communications comprises about 2.4% of Cladis Investment Advisory LLC’s holdings, making the stock its 6th biggest holding. Cladis Investment Advisory LLC’s holdings in Verizon Communications were worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Pacifica Partners Inc. lifted its holdings in shares of Verizon Communications by 4.6% in the 4th quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock worth $223,000 after purchasing an additional 255 shares during the last quarter. Private Portfolio Partners LLC lifted its holdings in shares of Verizon Communications by 0.9% in the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after purchasing an additional 255 shares during the last quarter. Selective Wealth Management Inc. lifted its holdings in shares of Verizon Communications by 2.8% in the 4th quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock worth $374,000 after purchasing an additional 257 shares during the last quarter. Horizon Bancorp Inc. IN lifted its holdings in shares of Verizon Communications by 24.9% in the 4th quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after purchasing an additional 258 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in shares of Verizon Communications by 2.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after purchasing an additional 260 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Down 0.9 %

VZ traded down $0.39 during trading on Friday, reaching $40.94. 10,410,163 shares of the stock traded hands, compared to its average volume of 15,627,389. The stock has a market cap of $172.33 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. The stock’s 50-day simple moving average is $40.27 and its two-hundred day simple moving average is $39.76.

Verizon Communications (NYSE:VZGet Free Report) last announced its quarterly 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. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The company had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.665 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.50%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Tigress Financial lifted their target price on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Royal Bank of Canada lifted their target price on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price target for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Oppenheimer reiterated an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research report on Tuesday, April 23rd. Finally, Wells Fargo & Company lowered their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.77.

Read Our Latest Stock Report on Verizon Communications

Verizon Communications 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).

See Also

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

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