Single Point Partners LLC Takes Position in Verizon Communications Inc. (NYSE:VZ)

Single Point Partners LLC bought a new position in Verizon Communications Inc. (NYSE:VZ) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 4,990 shares of the cell phone carrier’s stock, valued at approximately $226,000.

Several other large investors have also recently modified their holdings of the stock. NCM Capital Management LLC boosted its position in shares of Verizon Communications by 1.4% during the fourth quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier’s stock valued at $735,000 after buying an additional 245 shares during the period. Kirtland Hills Capital Management LLC boosted its holdings in Verizon Communications by 2.4% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after acquiring an additional 252 shares during the period. Capital Advisors Ltd. LLC grew its position in Verizon Communications by 9.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier’s stock valued at $117,000 after acquiring an additional 263 shares during the last quarter. Tower Wealth Partners Inc. grew its position in Verizon Communications by 2.6% in the 4th quarter. Tower Wealth Partners Inc. now owns 10,483 shares of the cell phone carrier’s stock valued at $419,000 after acquiring an additional 263 shares during the last quarter. Finally, Campbell Wealth Management increased its stake in Verizon Communications by 4.8% in the fourth quarter. Campbell Wealth Management now owns 5,732 shares of the cell phone carrier’s stock worth $229,000 after purchasing an additional 265 shares during the period. Institutional investors own 62.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the sale, the chief executive officer now owns 10,008 shares of the company’s stock, valued at $441,352.80. The trade was a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 21,500 shares of company stock valued at $938,400. Insiders own 0.10% of the company’s stock.

Verizon Communications Stock Up 1.2%

Shares of VZ stock opened at $43.82 on Monday. The stock’s fifty day moving average price is $43.44 and its 200 day moving average price is $42.28. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36. The company has a market cap of $184.76 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 4.45 and a beta of 0.38. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. On average, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.18%. Verizon Communications’s dividend payout ratio is currently 64.52%.

Analysts Set New Price Targets

VZ has been the topic of a number of research analyst reports. Wolfe Research cut shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 target price (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Wall Street Zen downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Tigress Financial boosted their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 28th. Finally, Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.41.

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).