BCS Wealth Management Acquires 536 Shares of Verizon Communications Inc. (NYSE:VZ)

BCS Wealth Management increased its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 5.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,881 shares of the cell phone carrier’s stock after acquiring an additional 536 shares during the quarter. BCS Wealth Management’s holdings in Verizon Communications were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of VZ. American National Bank raised its stake in shares of Verizon Communications by 29.6% in the first quarter. American National Bank now owns 72,660 shares of the cell phone carrier’s stock valued at $3,049,000 after buying an additional 16,592 shares during the period. Sunflower Bank N.A. bought a new stake in shares of Verizon Communications in the first quarter valued at $242,000. First National Bank of Mount Dora Trust Investment Services grew its position in shares of Verizon Communications by 0.3% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 178,277 shares of the cell phone carrier’s stock valued at $7,481,000 after purchasing an additional 466 shares in the last quarter. Wedmont Private Capital grew its position in shares of Verizon Communications by 12.5% in the first quarter. Wedmont Private Capital now owns 19,862 shares of the cell phone carrier’s stock valued at $811,000 after purchasing an additional 2,206 shares in the last quarter. Finally, Walker Asset Management LLC grew its position in shares of Verizon Communications by 2.1% in the first quarter. Walker Asset Management LLC now owns 13,168 shares of the cell phone carrier’s stock valued at $553,000 after purchasing an additional 272 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ stock remained flat at $40.24 during midday trading on Friday. The company’s stock had a trading volume of 30,359,268 shares, compared to its average volume of 18,871,523. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42. The company has a 50-day simple moving average of $39.96 and a 200 day simple moving average of $39.91. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a market cap of $169.38 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.91 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Free Report) last posted 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. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.61%. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. 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. Royal Bank of Canada boosted their target price on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Tigress Financial lifted their price target on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.77.

Get Our Latest Research Report on VZ

About Verizon Communications

(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).

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

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