International Private Wealth Advisors LLC grew its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,141 shares of the cell phone carrier’s stock after acquiring an additional 365 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Verizon Communications were worth $446,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Global Wealth Management Investment Advisory Inc. purchased a new position in Verizon Communications in the 4th quarter worth $4,333,000. Opal Wealth Advisors LLC increased its holdings in shares of Verizon Communications by 76.5% in the fourth quarter. Opal Wealth Advisors LLC now owns 9,691 shares of the cell phone carrier’s stock valued at $388,000 after purchasing an additional 4,201 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in shares of Verizon Communications in the fourth quarter valued at about $181,000. MBA Advisors LLC raised its stake in shares of Verizon Communications by 5.9% in the fourth quarter. MBA Advisors LLC now owns 15,781 shares of the cell phone carrier’s stock worth $631,000 after purchasing an additional 873 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its holdings in shares of Verizon Communications by 20.1% during the fourth quarter. Angeles Wealth Management LLC now owns 7,797 shares of the cell phone carrier’s stock worth $312,000 after purchasing an additional 1,304 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.
Verizon Communications Trading Up 0.2 %
Shares of NYSE:VZ opened at $39.94 on Tuesday. The firm has a market capitalization of $168.14 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 4.17 and a beta of 0.45. The business’s 50 day moving average price is $40.18 and its 200-day moving average price is $41.56. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36.
Verizon Communications Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a dividend of $0.6775 per share. The ex-dividend date was Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.78%. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.
Wall Street Analyst Weigh In
VZ has been the topic of several research reports. Royal Bank of Canada cut their price target on shares of Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.
Get Our Latest Research Report on VZ
Insiders Place Their Bets
In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of Verizon Communications stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the sale, the chief executive officer now owns 45,675 shares of the company’s stock, valued at $1,851,664.50. The trade was a 30.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 39,085 shares of company stock worth $1,582,995. Corporate insiders own 0.02% of the company’s stock.
About Verizon Communications
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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