Bordeaux Wealth Advisors LLC Has $250,000 Stake in Verizon Communications Inc. (NYSE:VZ)

Bordeaux Wealth Advisors LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,521 shares of the cell phone carrier’s stock after buying an additional 315 shares during the quarter. Bordeaux Wealth Advisors LLC’s holdings in Verizon Communications were worth $250,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bernard Wealth Management Corp. boosted its stake in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 243 shares in the last quarter. Garde Capital Inc. acquired a new stake in Verizon Communications in the 1st quarter valued at $26,000. Cherry Tree Wealth Management LLC boosted its stake in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 244 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in Verizon Communications in the fourth quarter worth $28,000. Finally, EQ Wealth Advisors LLC acquired a new position in Verizon Communications in the first quarter worth $32,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the transaction, the chief executive officer now owns 10,008 shares of the company’s stock, valued at approximately $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is currently owned by company insiders.

Verizon Communications Trading Up 0.5%

Shares of VZ opened at $42.32 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $47.36. The firm has a market capitalization of $178.41 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 3.12 and a beta of 0.38. The stock’s fifty day simple moving average is $43.15 and its 200-day simple moving average is $42.21.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. The business had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. As a group, research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.40%. The ex-dividend date is Thursday, July 10th. Verizon Communications’s payout ratio is 64.52%.

Wall Street Analyst Weigh In

A number of research firms have commented on VZ. Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Oppenheimer boosted their price objective on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Evercore ISI raised Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Friday, April 11th. Wall Street Zen lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, Wolfe Research lowered Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.41.

Verizon Communications Profile

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).