Bonness Enterprises Inc. Has $1.86 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Bonness Enterprises Inc. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,431 shares of the cell phone carrier’s stock after acquiring an additional 1,844 shares during the quarter. Verizon Communications makes up approximately 0.8% of Bonness Enterprises Inc.’s portfolio, making the stock its 26th largest holding. Bonness Enterprises Inc.’s holdings in Verizon Communications were worth $1,864,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VZ. CGC Financial Services LLC acquired a new position in Verizon Communications during the second quarter valued at approximately $32,000. HBC Financial Services PLLC raised its holdings in Verizon Communications by 320.0% in the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after acquiring an additional 800 shares during the period. True Wealth Design LLC bought a new stake in Verizon Communications during the fourth quarter valued at about $42,000. Financial Management Professionals Inc. grew its position in shares of Verizon Communications by 58.4% in the fourth quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock valued at $41,000 after purchasing an additional 404 shares during the last quarter. Finally, RVW Wealth LLC acquired a new position in shares of Verizon Communications during the 3rd quarter worth about $36,000. 62.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group lifted their price target on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Tigress Financial boosted their price objective on shares of Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Wolfe Research raised Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Thursday, January 4th. StockNews.com lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Citigroup raised their target price on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Check Out Our Latest Analysis on VZ

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total value of $979,200.00. Following the transaction, the chief executive officer now 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 accessible through this link. 0.03% of the stock is currently owned by insiders.

Verizon Communications Price Performance

Shares of VZ stock opened at $42.28 on Tuesday. The firm has a market capitalization of $177.76 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 3.40 and a beta of 0.41. The firm’s 50 day moving average is $40.68 and its 200-day moving average is $37.48. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.21.

Verizon Communications (NYSE:VZGet Free Report) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share 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 for the quarter, compared to analyst estimates of $34.60 billion. During the same period last year, the business posted $1.19 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts forecast that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.665 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.29%. Verizon Communications’s dividend payout ratio (DPR) is currently 96.38%.

Verizon Communications Company 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).

See Also

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

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