Cwm LLC Has $42.76 Million Position in Verizon Communications Inc. (NYSE:VZ)

Cwm LLC raised its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,134,258 shares of the cell phone carrier’s stock after buying an additional 11,401 shares during the period. Cwm LLC’s holdings in Verizon Communications were worth $42,762,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Portland Investment Counsel Inc. increased its stake in Verizon Communications by 173.7% in the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after buying an additional 413,869 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Verizon Communications by 1.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock worth $5,131,000 after purchasing an additional 1,616 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Verizon Communications by 6.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock worth $1,677,000 after purchasing an additional 3,020 shares during the last quarter. GFS Advisors LLC acquired a new position in shares of Verizon Communications during the 4th quarter worth about $212,000. Finally, Fidelity D & D Bancorp Inc. acquired a new position in shares of Verizon Communications during the 3rd quarter worth about $306,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of Verizon Communications stock traded up $0.36 on Friday, reaching $40.49. 24,706,520 shares of the stock were exchanged, compared to its average volume of 16,407,915. The firm’s 50 day moving average is $40.56 and its 200-day moving average is $38.24. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. The firm has a market cap of $170.23 billion, a PE ratio of 14.67, a P/E/G ratio of 3.27 and a beta of 0.41.

Verizon Communications (NYSE:VZGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.08. The business had revenue of $35.10 billion during the quarter, compared to analysts’ expectations of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. As a group, analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is 96.38%.

Insider Buying and Selling

In related news, CEO Kyle Malady sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the transaction, the chief executive officer now directly owns 35,201 shares in the company, valued at approximately $1,436,200.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VZ has been the topic of several recent analyst reports. Oppenheimer restated an “outperform” rating and set a $48.00 price objective on shares of Verizon Communications in a research note on Wednesday, April 3rd. Barclays boosted their price objective 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. Raymond James lifted their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. UBS Group lifted their target price on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Read Our Latest Report on VZ

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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