Manchester Capital Management LLC Boosts Stake in Verizon Communications Inc. (NYSE:VZ)

Manchester Capital Management LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,156 shares of the cell phone carrier’s stock after acquiring an additional 1,251 shares during the period. Manchester Capital Management LLC’s holdings in Verizon Communications were worth $345,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA grew its holdings in shares of Verizon Communications by 627.8% in the 4th 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 period. Criterion Capital Advisors LLC acquired a new stake in Verizon Communications in the fourth quarter valued at $25,000. Morton Brown Family Wealth LLC increased its position in shares of Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after buying an additional 488 shares in the last quarter. HBC Financial Services PLLC raised its stake in shares of Verizon Communications by 320.0% during the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after buying an additional 800 shares during the last quarter. Finally, Cetera Trust Company N.A purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on VZ shares. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Citigroup lifted their price objective on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. KeyCorp increased their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. UBS Group raised their price target on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.36.

Check Out Our Latest Stock Analysis on VZ

Verizon Communications Trading Down 0.5 %

Shares of VZ stock traded down $0.19 during mid-day trading on Friday, reaching $40.06. The company’s stock had a trading volume of 14,670,373 shares, compared to its average volume of 18,686,390. The company’s 50 day simple moving average is $40.34 and its 200-day simple moving average is $39.33. 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 Inc. has a 12-month low of $30.14 and a 12-month high of $43.42. The firm has a market capitalization of $168.62 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.92 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping 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 company had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts predict that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction dated 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 owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.02% of the stock is currently owned by company insiders.

Verizon Communications Profile

(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).

Further Reading

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

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