Motiv8 Investments LLC Buys 2,622 Shares of Verizon Communications Inc. (NYSE:VZ)

Motiv8 Investments LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 8.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,768 shares of the cell phone carrier’s stock after buying an additional 2,622 shares during the period. Motiv8 Investments LLC’s holdings in Verizon Communications were worth $1,486,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in VZ. Bernard Wealth Management Corp. lifted its holdings in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares during the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications in the first quarter valued at approximately $26,000. Cherry Tree Wealth Management LLC raised its position in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 244 shares during the period. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications in the fourth quarter worth $28,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of Verizon Communications in the first quarter worth $32,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of VZ stock opened at $42.15 on Thursday. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The company has a market capitalization of $177.71 billion, a P/E ratio of 10.04, a P/E/G ratio of 3.16 and a beta of 0.38. The stock has a 50 day moving average of $43.22 and a two-hundred day moving average of $42.21. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $33.50 billion during the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend is Thursday, July 10th. Verizon Communications’s dividend payout ratio is 64.52%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wolfe Research lowered shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Wall Street Zen cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Tigress Financial boosted their price objective on Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a research 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 note on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.41.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total value of $329,100.00. Following the sale, the chief executive officer now directly owns 19,008 shares in the company, valued at approximately $834,071.04. This represents a 28.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 21,500 shares of company stock valued at $938,400. Company insiders own 0.10% 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).