Naviter Wealth LLC lifted its position in Verizon Communications Inc. (NYSE:VZ – Free Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,379 shares of the cell phone carrier’s stock after acquiring an additional 2,486 shares during the period. Naviter Wealth LLC’s holdings in Verizon Communications were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA grew its position in Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 565 shares during the period. Criterion Capital Advisors LLC acquired a new stake in Verizon Communications during the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Verizon Communications during the 4th quarter worth about $29,000. Morton Brown Family Wealth LLC grew its position in Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares during the period. Finally, Vima LLC acquired a new stake in Verizon Communications during the 4th quarter worth about $36,000. 62.06% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Stock Down 1.5 %
Shares of VZ stock traded down $0.64 on Tuesday, reaching $41.10. 21,656,635 shares of the stock were exchanged, compared to its average volume of 18,928,711. 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 business’s 50 day moving average price is $40.13 and its 200 day moving average price is $40.09. The company has a market capitalization of $173.00 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 3.75 and a beta of 0.41. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.42.
Verizon Communications Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.665 dividend. 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 6.47%. Verizon Communications’s payout ratio is 99.25%.
Analysts Set New Price Targets
VZ has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research note on Monday. They issued a “buy” rating and a $50.00 price target on the stock. Finally, StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.14.
Check Out Our Latest Report on VZ
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).
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