Trust Point Inc. Makes New $1.56 Million Investment in Verizon Communications Inc. (NYSE:VZ)

Trust Point Inc. purchased a new position in shares of Verizon Communications Inc. (NYSE:VZFree Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 41,293 shares of the cell phone carrier’s stock, valued at approximately $1,557,000.

Other institutional investors also recently added to or reduced their stakes in the company. Portland Investment Counsel Inc. increased its holdings in shares of Verizon Communications by 173.7% in the third quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after purchasing an additional 413,869 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in Verizon Communications by 1.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock worth $5,131,000 after acquiring an additional 1,616 shares during the period. 180 Wealth Advisors LLC grew its holdings in Verizon Communications by 6.2% during the third quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock worth $1,677,000 after acquiring an additional 3,020 shares during the period. Fidelity D & D Bancorp Inc. acquired a new position in Verizon Communications during the third quarter worth $306,000. Finally, Regal Investment Advisors LLC grew its holdings in Verizon Communications by 24.1% during the third quarter. Regal Investment Advisors LLC now owns 183,615 shares of the cell phone carrier’s stock worth $5,951,000 after acquiring an additional 35,675 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.4 %

Shares of VZ stock traded up $0.17 during trading hours on Wednesday, reaching $42.71. The company had a trading volume of 7,337,365 shares, compared to its average volume of 20,010,277. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.21. The company has a market capitalization of $179.56 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 3.43 and a beta of 0.41. The stock’s fifty day simple moving average is $40.74 and its 200 day simple moving average is $37.60.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $34.60 billion. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. Verizon Communications’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm 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 yield of 6.23%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 96.38%.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $40.33, for a total transaction of $604,950.00. Following the transaction, the chief executive officer now owns 59,201 shares of the company’s stock, valued at approximately $2,387,576.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VZ shares. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Raymond James upped their price objective on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday. StockNews.com downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, UBS Group boosted their target price on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

View Our Latest Analysis on VZ

About Verizon Communications

(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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