Bell & Brown Wealth Advisors LLC Buys Shares of 6,763 Verizon Communications (VZ)

Bell & Brown Wealth Advisors LLC bought a new stake in shares of Verizon Communications (NYSE:VZ) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,763 shares of the cell phone carrier’s stock, valued at approximately $358,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Northstar Asset Management LLC boosted its position in shares of Verizon Communications by 2.9% in the 4th quarter. Northstar Asset Management LLC now owns 35,391 shares of the cell phone carrier’s stock valued at $1,873,000 after purchasing an additional 1,000 shares during the period. Halbert Hargrove Russell LLC boosted its position in shares of Verizon Communications by 19.3% in the 4th quarter. Halbert Hargrove Russell LLC now owns 6,268 shares of the cell phone carrier’s stock valued at $332,000 after purchasing an additional 1,013 shares during the period. Neville Rodie & Shaw Inc. boosted its position in shares of Verizon Communications by 1.4% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 74,755 shares of the cell phone carrier’s stock valued at $3,957,000 after purchasing an additional 1,020 shares during the period. Tompkins Financial Corp boosted its position in Verizon Communications by 1.4% during the 4th quarter. Tompkins Financial Corp now owns 77,349 shares of the cell phone carrier’s stock worth $4,094,000 after acquiring an additional 1,043 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Verizon Communications by 11.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,266 shares of the cell phone carrier’s stock worth $527,000 after acquiring an additional 1,046 shares during the period. 63.81% of the stock is owned by institutional investors and hedge funds.

VZ opened at $48.59 on Thursday. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94. The stock has a market cap of $199.92 billion, a PE ratio of 12.99, a PEG ratio of 1.94 and a beta of 0.62.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.06. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. The company had revenue of $31.77 billion during the quarter, compared to the consensus estimate of $31.25 billion. During the same period last year, the business earned $0.95 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. research analysts forecast that Verizon Communications will post 4.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, April 9th. Verizon Communications’s payout ratio is 63.10%.

In related news, SVP Anthony T. Skiadas sold 1,974 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total value of $97,594.56. Following the transaction, the senior vice president now directly owns 16,060 shares of the company’s stock, valued at approximately $794,006.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

VZ has been the subject of a number of research reports. Macquarie restated a “hold” rating and set a $54.00 price objective on shares of Verizon Communications in a research report on Wednesday, January 24th. SunTrust Banks raised their price objective on Verizon Communications to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Bank of America raised their price objective on Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. raised their price objective on Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Nomura raised their price objective on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. Verizon Communications presently has an average rating of “Buy” and a consensus price target of $54.75.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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