Allen Capital Group LLC acquired a new stake in Verizon Communications (NYSE:VZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 7,094 shares of the cell phone carrier’s stock, valued at approximately $376,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in VZ. Northstar Asset Management LLC lifted its stake in shares of Verizon Communications by 2.9% during the 4th quarter. Northstar Asset Management LLC now owns 35,391 shares of the cell phone carrier’s stock worth $1,873,000 after buying an additional 1,000 shares during the last quarter. Halbert Hargrove Russell LLC lifted its stake in shares of Verizon Communications by 19.3% during the 4th quarter. Halbert Hargrove Russell LLC now owns 6,268 shares of the cell phone carrier’s stock worth $332,000 after buying an additional 1,013 shares during the last quarter. Neville Rodie & Shaw Inc. lifted its stake in shares of Verizon Communications by 1.4% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 74,755 shares of the cell phone carrier’s stock worth $3,957,000 after buying an additional 1,020 shares during the last quarter. Tompkins Financial Corp lifted its stake in shares of Verizon Communications by 1.4% during the 4th quarter. Tompkins Financial Corp now owns 77,349 shares of the cell phone carrier’s stock worth $4,094,000 after buying an additional 1,043 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Verizon Communications by 11.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,266 shares of the cell phone carrier’s stock worth $527,000 after buying an additional 1,046 shares during the last quarter. 64.10% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on the stock. JPMorgan Chase raised their target price on shares of Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. SunTrust Banks lifted their price objective on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Macquarie reiterated a “hold” rating and issued a $54.00 price objective on shares of Verizon Communications in a research note on Wednesday, January 24th. Nomura lifted their price objective on shares of Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Bank of America lifted their price objective on shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $54.75.

Shares of Verizon Communications opened at $47.85 on Friday, MarketBeat Ratings reports. The company has a market capitalization of $197.28 billion, a PE ratio of 12.79, a PEG ratio of 1.91 and a beta of 0.62. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 2.15. Verizon Communications has a 12 month low of $47.65 and a 12 month high of $48.02.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, beating the consensus estimate of $1.11 by $0.06. The company had revenue of $31.77 billion during the quarter, compared to analysts’ expectations of $31.25 billion. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. research analysts expect that Verizon Communications will post 4.57 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Monday, April 9th. Verizon Communications’s payout ratio is presently 63.10%.

In other news, SVP Anthony T. Skiadas sold 1,974 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total value of $97,594.56. Following the completion of the transaction, the senior vice president now directly owns 16,060 shares in the company, valued at approximately $794,006.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by insiders.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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