Kiley Juergens Wealth Management LLC Has $686,000 Position in Verizon Communications Inc. (NYSE:VZ)

Kiley Juergens Wealth Management LLC cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,187 shares of the cell phone carrier’s stock after selling 3,346 shares during the quarter. Kiley Juergens Wealth Management LLC’s holdings in Verizon Communications were worth $686,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VZ. LFA Lugano Financial Advisors SA grew its holdings in 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 valued at $25,000 after buying an additional 565 shares in the last quarter. Morton Brown Family Wealth LLC grew its holdings in Verizon Communications by 130.1% in the 4th 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 grew its holdings in Verizon Communications by 320.0% in the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock valued at $34,000 after buying an additional 800 shares in the last quarter. RVW Wealth LLC acquired a new position in Verizon Communications in the 3rd quarter valued at $36,000. Finally, Financial Management Professionals Inc. grew its holdings in Verizon Communications by 58.4% in the 4th quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock valued at $41,000 after buying an additional 404 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VZ. Raymond James upped their price objective on Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Daiwa Capital Markets upgraded Verizon Communications from a “neutral” rating to an “outperform” rating and upped their target price for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Citigroup upped their target price on Verizon Communications from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Tigress Financial upped their target price on Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, KeyCorp upped their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Verizon Communications Price Performance

VZ traded down $0.34 on Tuesday, reaching $39.78. The stock had a trading volume of 14,015,964 shares, compared to its average volume of 19,711,529. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.42. The firm has a 50-day moving average of $40.58 and a 200-day moving average of $38.10. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $167.22 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 3.24 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its earnings results 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. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The business had revenue of $35.10 billion during the quarter, compared to analysts’ expectations of $34.60 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.665 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.69%. Verizon Communications’s payout ratio is presently 96.38%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $40.33, for a total value of $604,950.00. Following the completion of the transaction, the chief executive officer now owns 59,201 shares of the company’s stock, valued at approximately $2,387,576.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.03% of the company’s stock.

Verizon Communications Company 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).