Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,996 shares of the cell phone carrier’s stock after acquiring an additional 3,292 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Verizon Communications were worth $1,169,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. LFA Lugano Financial Advisors SA lifted its position in Verizon Communications by 627.8% during the fourth 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 lifted its position in Verizon Communications by 130.1% during 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 lifted its position in Verizon Communications by 320.0% during the third 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 during the third quarter valued at approximately $36,000. Finally, Financial Management Professionals Inc. lifted its position in Verizon Communications by 58.4% during the fourth 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.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on VZ shares. Tigress Financial lifted their price target on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $47.00 in a research report on Wednesday, January 24th. Oppenheimer reissued an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Wednesday, April 3rd. Citigroup boosted their target price on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, Barclays boosted 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 report on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Verizon Communications Stock Up 0.9 %

Shares of NYSE:VZ traded up $0.37 during midday trading on Friday, reaching $40.50. The company had a trading volume of 24,693,029 shares, compared to its average volume of 19,784,156. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65. The stock’s fifty day moving average price is $40.56 and its 200-day moving average price is $38.24. The stock has a market capitalization of $170.27 billion, a P/E ratio of 14.67, a PEG ratio of 3.25 and a beta of 0.41. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The firm had revenue of $35.10 billion during the quarter, compared to analyst estimates of $34.60 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

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

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).