Capital Advisors Wealth Management LLC Has $377,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

Capital Advisors Wealth Management LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 41.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,975 shares of the cell phone carrier’s stock after purchasing an additional 2,635 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in Verizon Communications were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Pacifica Partners Inc. increased its stake in Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after purchasing an additional 255 shares in the last quarter. Private Portfolio Partners LLC increased its position in shares of Verizon Communications by 0.9% during the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after acquiring an additional 255 shares in the last quarter. Selective Wealth Management Inc. increased its position in shares of Verizon Communications by 2.8% during the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock worth $374,000 after acquiring an additional 257 shares in the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Verizon Communications by 24.9% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after acquiring an additional 258 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its position in shares of Verizon Communications by 2.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after acquiring an additional 260 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

VZ traded up $0.12 during midday trading on Tuesday, reaching $41.29. The company had a trading volume of 1,689,204 shares, compared to its average volume of 18,745,498. The business has a 50-day moving average price of $39.99 and a two-hundred day moving average price of $39.96. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. The stock has a market cap of $173.80 billion, a PE ratio of 15.35, a P/E/G ratio of 2.92 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The company had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 99.25%.

Analyst Ratings Changes

Several research firms have recently commented on VZ. Oppenheimer reissued an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Wells Fargo & Company decreased their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Finally, Tigress Financial boosted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $44.77.

Verizon Communications 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).