Cliftonlarsonallen Wealth Advisors LLC Has $525,000 Position in Verizon Communications Inc. (NYSE:VZ)

Cliftonlarsonallen Wealth Advisors LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 5.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,127 shares of the cell phone carrier’s stock after purchasing an additional 635 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Verizon Communications were worth $525,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in VZ. Burney Co. grew its holdings in Verizon Communications by 30.4% during the 4th quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock worth $7,463,000 after acquiring an additional 43,472 shares during the last quarter. Laurel Wealth Advisors LLC increased its holdings in shares of Verizon Communications by 2.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 43,530 shares of the cell phone carrier’s stock valued at $1,741,000 after purchasing an additional 1,174 shares in the last quarter. Park Avenue Securities LLC raised its position in Verizon Communications by 16.4% in the 4th quarter. Park Avenue Securities LLC now owns 221,712 shares of the cell phone carrier’s stock worth $8,866,000 after purchasing an additional 31,269 shares during the last quarter. Kathmere Capital Management LLC lifted its holdings in Verizon Communications by 3.7% during the 4th quarter. Kathmere Capital Management LLC now owns 67,186 shares of the cell phone carrier’s stock worth $2,687,000 after buying an additional 2,390 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Verizon Communications by 184.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,428,540 shares of the cell phone carrier’s stock valued at $217,087,000 after buying an additional 3,519,258 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

VZ has been the subject of several recent research reports. Royal Bank of Canada boosted their price objective on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Raymond James lifted their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Citigroup increased their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Tigress Financial upped their price objective on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.54.

Verizon Communications Trading Up 0.5 %

Verizon Communications stock traded up $0.19 during trading hours on Wednesday, hitting $38.47. The stock had a trading volume of 3,333,839 shares, compared to its average volume of 20,584,789. The stock has a market cap of $161.94 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 3.05 and a beta of 0.46. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The business’s 50 day simple moving average is $41.17 and its 200-day simple moving average is $41.76. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the previous year, the business earned $1.22 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

About Verizon Communications

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).