4,774 Shares in Verizon Communications Inc. (NYSE:VZ) Bought by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. purchased a new position in Verizon Communications Inc. (NYSE:VZ) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,774 shares of the cell phone carrier’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VZ. LFA Lugano Financial Advisors SA grew its stake in shares of Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after acquiring an additional 565 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Verizon Communications in the fourth quarter worth $25,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Verizon Communications during the fourth quarter valued at $29,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after purchasing an additional 488 shares in the last quarter. Finally, Vima LLC bought a new position in shares of Verizon Communications during the fourth quarter valued at $36,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

VZ traded down $0.01 during midday trading on Friday, reaching $41.29. The company had a trading volume of 1,201,219 shares, compared to its average volume of 18,601,707. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average of $40.42 and a two-hundred day moving average of $40.26. The company has a market cap of $173.80 billion, a P/E ratio of 15.41, a P/E/G ratio of 3.74 and a beta of 0.41. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s payout ratio is currently 99.25%.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. 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 report on Tuesday, April 23rd. Scotiabank upped their price target on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday. Royal Bank of Canada upped their price target on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group began coverage on Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.23.

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).