Windle Wealth LLC Boosts Position in Verizon Communications Inc. (NYSE:VZ)

Windle Wealth LLC increased its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,242 shares of the cell phone carrier’s stock after acquiring an additional 1,270 shares during the quarter. Verizon Communications accounts for approximately 4.3% of Windle Wealth LLC’s portfolio, making the stock its 10th largest position. Windle Wealth LLC’s holdings in Verizon Communications were worth $6,192,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Allworth Financial LP increased its holdings in shares of Verizon Communications by 1.9% during the third quarter. Allworth Financial LP now owns 95,823 shares of the cell phone carrier’s stock valued at $3,106,000 after acquiring an additional 1,794 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Verizon Communications by 9.0% during the third quarter. Daiwa Securities Group Inc. now owns 437,976 shares of the cell phone carrier’s stock worth $14,195,000 after buying an additional 36,072 shares during the last quarter. Csenge Advisory Group lifted its stake in shares of Verizon Communications by 16.6% in the third quarter. Csenge Advisory Group now owns 54,857 shares of the cell phone carrier’s stock valued at $1,778,000 after buying an additional 7,803 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its holdings in shares of Verizon Communications by 163.5% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 3,070 shares of the cell phone carrier’s stock valued at $99,000 after buying an additional 1,905 shares during the last quarter. Finally, Emfo LLC increased its position in shares of Verizon Communications by 1,402.7% during the third quarter. Emfo LLC now owns 47,126 shares of the cell phone carrier’s stock worth $1,527,000 after acquiring an additional 43,990 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and raised their price target for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. KeyCorp lifted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Barclays upped their target price on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Finally, Royal Bank of Canada boosted their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average price target of $44.36.

Check Out Our Latest Stock Report on Verizon Communications

Insider Activity

In other news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the completion of the transaction, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.02% of the company’s stock.

Verizon Communications Stock Performance

Verizon Communications stock traded down $0.19 during trading on Friday, hitting $40.06. The stock had a trading volume of 14,670,373 shares, compared to its average volume of 18,686,390. The stock’s 50 day moving average is $40.34 and its two-hundred day moving average is $39.33. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42. The stock has a market cap of $168.62 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 2.91 and a beta of 0.42. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts predict that Verizon Communications Inc. will post 4.6 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.64%. Verizon Communications’s payout ratio is 99.25%.

About Verizon Communications

(Free Report)

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

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