Uhlmann Price Securities LLC bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) during the first quarter, Holdings Channel reports. The fund bought 16,465 shares of the cell phone carrier’s stock, valued at approximately $837,000.
Several other large investors have also modified their holdings of the business. Strengthening Families & Communities LLC increased its holdings in Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 539 shares during the period. Holos Integrated Wealth LLC bought a new position in Verizon Communications in the fourth quarter worth approximately $28,000. Foster Dykema Cabot & Partners LLC purchased a new stake in Verizon Communications during the third quarter worth $29,000. EQ Wealth Advisors LLC purchased a new stake in Verizon Communications during the fourth quarter worth $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its position in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after acquiring an additional 448 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.
Verizon Communications Price Performance
Shares of VZ stock opened at $45.44 on Friday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The firm has a market capitalization of $189.72 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.11 and a beta of 0.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. The stock’s 50-day simple moving average is $46.92 and its 200-day simple moving average is $45.66.
Verizon Communications Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 6.2%. Verizon Communications’s dividend payout ratio is presently 69.02%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Citigroup upped their price objective on Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Scotiabank raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $50.25 to $54.50 in a research report on Monday, March 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research note on Friday, May 29th. Finally, Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.59.
View Our Latest Analysis on VZ
Verizon Communications Company Profile
Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.
The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.
See Also
- Five stocks we like better than Verizon Communications
- SpaceX Was Just the Beginning—2 More Massive IPOs Are on Deck
- 3 Retail Winners Using Cash Flow to Stay Ahead
- 3 Tech ETFs That Could Bounce Back After the AI Selloff
- 3 Penny Stocks Under $5 Backed by Real Revenue Growth
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ – Free Report).
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.
