Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Altus Wealth Group LLC

Altus Wealth Group LLC increased its stake in Verizon Communications Inc. (NYSE:VZGet Rating) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,039 shares of the cell phone carrier’s stock after acquiring an additional 926 shares during the period. Altus Wealth Group LLC’s holdings in Verizon Communications were worth $613,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Rinkey Investments acquired a new position in Verizon Communications in the fourth quarter worth $27,000. Lansing Street Advisors bought a new stake in shares of Verizon Communications during the first quarter valued at about $35,000. Conrad Siegel Investment Advisors Inc. bought a new stake in Verizon Communications in the first quarter worth about $36,000. Gibson Wealth Advisors LLC bought a new stake in Verizon Communications in the fourth quarter worth about $37,000. Finally, Morton Brown Family Wealth LLC raised its position in Verizon Communications by 109.2% in the first quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock worth $37,000 after acquiring an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 63.78% 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 on Friday, June 3rd. The stock was sold at an average price of $50.94, for a total value of $79,364.52. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,780,913.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 4,674 shares of company stock worth $237,377. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on VZ shares. Scotiabank downgraded Verizon Communications from a “sector outperform” rating to a “sector perform” rating in a report on Friday, July 22nd. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Monday. Barclays lowered Verizon Communications from an “overweight” rating to an “equal weight” rating in a report on Friday, July 22nd. JPMorgan Chase & Co. reiterated a “hold” rating and set a $57.00 price target on shares of Verizon Communications in a report on Friday, June 24th. Finally, Wells Fargo & Company cut their target price on Verizon Communications from $58.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.50.

Verizon Communications Stock Performance

Shares of VZ stock traded down $0.08 during trading on Tuesday, hitting $44.46. The company’s stock had a trading volume of 219,530 shares, compared to its average volume of 21,829,402. The company has a market cap of $186.72 billion, a PE ratio of 8.93, a P/E/G ratio of 2.14 and a beta of 0.33. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. The business has a fifty day moving average of $49.26 and a 200-day moving average of $50.92. Verizon Communications Inc. has a 52 week low of $43.76 and a 52 week high of $56.20.

Verizon Communications (NYSE:VZGet Rating) last announced its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The firm had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. During the same period last year, the company posted $1.37 earnings per share. Verizon Communications’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts anticipate that Verizon Communications Inc. will post 5.2 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were given a $0.64 dividend. The ex-dividend date was Thursday, July 7th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 5.76%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.30%.

Verizon Communications Company Profile

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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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