Griffith & Werner Inc. Invests $4.26 Million in Verizon Communications Inc. (NYSE:VZ)

Griffith & Werner Inc. acquired a new position in Verizon Communications Inc. (NYSE:VZ) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 106,479 shares of the cell phone carrier’s stock, valued at approximately $4,258,000. Verizon Communications accounts for about 2.8% of Griffith & Werner Inc.’s portfolio, making the stock its 14th biggest position.

Several other institutional investors have also added to or reduced their stakes in the stock. Beacon Investment Advisory Services Inc. increased its stake in shares of Verizon Communications by 21.0% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 13,785 shares of the cell phone carrier’s stock valued at $551,000 after acquiring an additional 2,388 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Verizon Communications by 14.0% in the fourth quarter. Avior Wealth Management LLC now owns 42,045 shares of the cell phone carrier’s stock worth $1,701,000 after purchasing an additional 5,173 shares during the period. Red Door Wealth Management LLC increased its stake in Verizon Communications by 5.2% in the fourth quarter. Red Door Wealth Management LLC now owns 111,817 shares of the cell phone carrier’s stock valued at $4,472,000 after purchasing an additional 5,480 shares in the last quarter. Secure Asset Management LLC raised its holdings in shares of Verizon Communications by 7.7% during the fourth quarter. Secure Asset Management LLC now owns 20,784 shares of the cell phone carrier’s stock valued at $831,000 after purchasing an additional 1,492 shares during the period. Finally, Hedges Asset Management LLC boosted its position in shares of Verizon Communications by 2.1% during the 4th quarter. Hedges Asset Management LLC now owns 59,250 shares of the cell phone carrier’s stock worth $2,369,000 after purchasing an additional 1,200 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $43.38 on Friday. The stock has a 50 day moving average of $43.60 and a 200 day moving average of $42.11. The company has a market capitalization of $182.91 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 4.45 and a beta of 0.39. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $33.50 billion for the quarter, compared to analysts’ expectations of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend was Thursday, April 10th. Verizon Communications’s payout ratio is 64.52%.

Insider Activity

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kyle Malady sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the sale, the chief executive officer now directly owns 10,008 shares in the company, valued at approximately $441,352.80. This trade represents a 47.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,500 shares of company stock valued at $1,376,300 in the last three months. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VZ. Oppenheimer upped their price target on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Wolfe Research lowered Verizon Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, March 12th. Scotiabank lifted their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 23rd. Evercore ISI upgraded shares of Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Friday, April 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price objective (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.41.

Verizon Communications Profile

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).