Fairvoy Private Wealth LLC Takes Position in Verizon Communications Inc. (NYSE:VZ)

Fairvoy Private Wealth LLC acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,988 shares of the cell phone carrier’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of VZ. Foundations Investment Advisors LLC increased its position in Verizon Communications by 27.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 222,366 shares of the cell phone carrier’s stock worth $8,892,000 after acquiring an additional 48,294 shares during the period. Kestra Investment Management LLC acquired a new stake in Verizon Communications in the 3rd quarter worth $3,376,000. Cyndeo Wealth Partners LLC increased its holdings in shares of Verizon Communications by 9.7% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock worth $9,095,000 after purchasing an additional 17,855 shares during the period. Burney Co. raised its position in shares of Verizon Communications by 30.4% during the fourth quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock valued at $7,463,000 after buying an additional 43,472 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of Verizon Communications by 1,934.5% in the third quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock valued at $48,503,000 after buying an additional 1,026,930 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $453,154.80. Following the transaction, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. This represents a 43.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 39,085 shares of company stock valued at $1,582,995. 0.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VZ has been the topic of several research reports. DZ Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, January 29th. UBS Group upped their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Tigress Financial restated a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a research note on Thursday, January 30th. Finally, KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Price Performance

Shares of VZ stock opened at $39.88 on Friday. The stock’s fifty day moving average is $40.27 and its 200-day moving average is $41.52. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36. The stock has a market capitalization of $167.86 billion, a PE ratio of 9.63, a PEG ratio of 4.11 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same quarter last year, the firm posted $1.08 earnings per share. Equities research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.80%. The ex-dividend date was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

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).