Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 21.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 41,775 shares of the cell phone carrier’s stock after acquiring an additional 7,333 shares during the quarter. Bridges Investment Management Inc.’s holdings in Verizon Communications were worth $1,575,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. LFA Lugano Financial Advisors SA lifted its holdings in Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 565 shares in the last quarter. CGC Financial Services LLC acquired a new stake in Verizon Communications during the 2nd quarter worth approximately $32,000. HBC Financial Services PLLC lifted its holdings in Verizon Communications by 320.0% during the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after buying an additional 800 shares in the last quarter. True Wealth Design LLC acquired a new stake in Verizon Communications during the 4th quarter worth approximately $42,000. Finally, Financial Management Professionals Inc. lifted its holdings in Verizon Communications by 58.4% during the 4th quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock worth $41,000 after buying an additional 404 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the transaction, the chief executive officer now directly owns 35,201 shares of the company’s stock, valued at approximately $1,436,200.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.03% of the company’s stock.

Verizon Communications Stock Up 0.4 %

Shares of NYSE VZ traded up $0.17 during mid-day trading on Wednesday, reaching $42.71. The company had a trading volume of 3,920,552 shares, compared to its average volume of 19,954,049. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. The firm has a 50 day simple moving average of $40.74 and a two-hundred day simple moving average of $37.60. The stock has a market cap of $179.56 billion, a P/E ratio of 15.46, a PEG ratio of 3.43 and a beta of 0.41. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week 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 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. The firm had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted $1.19 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 96.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group increased their target price on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Citigroup increased their target price on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Tigress Financial raised their price objective on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, January 25th. StockNews.com lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $47.00 in a report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Get Our Latest Stock Analysis on VZ

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).

Further Reading

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

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