Kingswood Wealth Advisors LLC Raises Stock Position in Verizon Communications Inc. (NYSE:VZ)

Kingswood Wealth Advisors LLC increased its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 251.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,795 shares of the cell phone carrier’s stock after purchasing an additional 53,515 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Verizon Communications were worth $2,820,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Verizon Communications by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 351,625,025 shares of the cell phone carrier’s stock valued at $11,396,167,000 after buying an additional 930,367 shares during the last quarter. BlackRock Inc. boosted its holdings in Verizon Communications by 1.8% during the second quarter. BlackRock Inc. now owns 339,007,286 shares of the cell phone carrier’s stock worth $12,607,681,000 after buying an additional 5,910,739 shares in the last quarter. State Street Corp lifted its position in shares of Verizon Communications by 4.9% in the 2nd quarter. State Street Corp now owns 175,039,883 shares of the cell phone carrier’s stock valued at $6,509,733,000 after acquiring an additional 8,171,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Verizon Communications by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 98,027,542 shares of the cell phone carrier’s stock valued at $3,151,714,000 after acquiring an additional 4,527,387 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in Verizon Communications by 88,532.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 79,084,569 shares of the cell phone carrier’s stock worth $3,115,932,000 after buying an additional 78,995,341 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total value of $979,200.00. Following the sale, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VZ shares. Wells Fargo & Company increased their target price on shares of Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Royal Bank of Canada raised their price target on shares of Verizon Communications from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 20th. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and lifted their target price for the company from $33.00 to $39.00 in a research report on Friday. Barclays lifted their price target on shares of Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Finally, Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $47.00 in a research note on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

View Our Latest Analysis on Verizon Communications

Verizon Communications Trading Up 1.2 %

Shares of Verizon Communications stock opened at $40.87 on Tuesday. The company has a market capitalization of $171.83 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 3.07 and a beta of 0.40. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.21. The firm’s 50-day moving average price is $40.44 and its two-hundred day moving average price is $37.21.

Verizon Communications (NYSE:VZGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The company had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 96.38%.

Verizon Communications Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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