Centaurus Financial Inc. Acquires 708 Shares of Verizon Communications Inc. (NYSE:VZ)

Centaurus Financial Inc. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,775 shares of the cell phone carrier’s stock after buying an additional 708 shares during the period. Centaurus Financial Inc.’s holdings in Verizon Communications were worth $1,462,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA lifted its stake in Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 565 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in Verizon Communications during the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in Verizon Communications during the fourth quarter worth about $29,000. Morton Brown Family Wealth LLC lifted its stake in Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares during the last quarter. Finally, Cetera Trust Company N.A bought a new stake in shares of Verizon Communications in the 4th quarter valued at about $37,000. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VZ shares. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and boosted their target price for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. Royal Bank of Canada boosted their target price on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. Tigress Financial boosted their target price on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company lowered their target price on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.77.

Read Our Latest Research Report on VZ

Verizon Communications Stock Down 0.3 %

Shares of Verizon Communications stock traded down $0.11 during midday trading on Friday, hitting $39.67. The company had a trading volume of 10,480,588 shares, compared to its average volume of 14,693,011. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. The stock has a market capitalization of $166.98 billion, a P/E ratio of 14.81, a P/E/G ratio of 2.89 and a beta of 0.42. The company has a 50 day moving average of $40.03 and a 200 day moving average of $39.85. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.71%. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Verizon Communications 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

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

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