Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 57.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,210 shares of the cell phone carrier’s stock after buying an additional 5,884 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Verizon Communications were worth $680,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Verizon Communications during the fourth quarter worth approximately $1,882,164,000. Capital World Investors raised its position in shares of Verizon Communications by 127.6% in the fourth quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after buying an additional 12,220,777 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Verizon Communications by 92.9% in the fourth quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock worth $851,989,000 after buying an additional 10,882,873 shares in the last quarter. Third Point LLC purchased a new stake in Verizon Communications during the 4th quarter valued at about $173,325,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Verizon Communications by 419.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,141,257 shares of the cell phone carrier’s stock worth $193,825,000 after purchasing an additional 4,152,099 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

VZ traded up $0.08 during trading on Tuesday, reaching $40.11. The company’s stock had a trading volume of 1,583,282 shares, compared to its average volume of 18,776,580. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.42. The company has a market capitalization of $168.84 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 3.65 and a beta of 0.41. The company’s fifty day moving average price is $40.57 and its 200-day moving average price is $40.46.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $32.80 billion during the quarter, compared to analysts’ expectations of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. Verizon Communications’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, equities analysts forecast that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.665 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 annualized dividend and a dividend yield of 6.63%. Verizon Communications’s dividend payout ratio is presently 99.25%.

Analyst Ratings Changes

Several research analysts have recently commented on VZ shares. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. TD Cowen increased their price objective on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group began coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company lowered their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.68.

Verizon Communications Company 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).