Morgan Dempsey Capital Management LLC Buys 22,490 Shares of Verizon Communications Inc. (NYSE:VZ)


Share on StockTwits

Morgan Dempsey Capital Management LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 18.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 147,657 shares of the cell phone carrier’s stock after purchasing an additional 22,490 shares during the period. Verizon Communications comprises approximately 2.7% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 20th biggest position. Morgan Dempsey Capital Management LLC’s holdings in Verizon Communications were worth $8,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Klaas Financial Asset Advisors LLC bought a new stake in Verizon Communications during the 4th quarter worth approximately $26,000. New Capital Management LP lifted its holdings in Verizon Communications by 60.3% during the fourth quarter. New Capital Management LP now owns 481 shares of the cell phone carrier’s stock worth $28,000 after acquiring an additional 181 shares during the period. Capital Directions Investment Advisors LLC grew its stake in Verizon Communications by 100.0% in the 4th quarter. Capital Directions Investment Advisors LLC now owns 600 shares of the cell phone carrier’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Alpha DNA Investment Management LLC bought a new position in Verizon Communications in the 4th quarter valued at $40,000. Finally, Curi Capital purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $40,000. 64.85% of the stock is owned by hedge funds and other institutional investors.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,555 shares of the firm’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $58.53, for a total value of $91,014.15. Following the transaction, the executive vice president now directly owns 36,242 shares of the company’s stock, valued at $2,121,244.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

VZ has been the topic of a number of recent analyst reports. Credit Suisse Group lowered their target price on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 19th. Tigress Financial upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 30th. Bank of America reiterated a “buy” rating and set a $64.00 target price on shares of Verizon Communications in a research note on Thursday, March 11th. Oppenheimer reiterated a “market perform” rating on shares of Verizon Communications in a research note on Wednesday, March 3rd. Finally, Scotiabank cut Verizon Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 25th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Verizon Communications has a consensus rating of “Hold” and an average target price of $62.69.

NYSE VZ opened at $58.14 on Thursday. Verizon Communications Inc. has a one year low of $52.85 and a one year high of $61.95. The stock has a 50-day moving average of $57.16 and a 200 day moving average of $57.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market capitalization of $240.70 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 3.54 and a beta of 0.44.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, April 20th. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.02. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm had revenue of $32.87 billion for the quarter, compared to the consensus estimate of $32.47 billion. During the same quarter last year, the firm posted $1.26 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Verizon Communications Inc. will post 4.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 9th will be given a dividend of $0.6275 per share. This represents a $2.51 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Thursday, April 8th. Verizon Communications’s dividend payout ratio (DPR) is presently 52.18%.

Verizon Communications Profile

Verizon Communications Inc offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices, such as smart watches.

See Also: Basic Economics creates winners and losers

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.