Verizon Communications Inc. (NYSE:VZ) Shares Bought by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,530 shares of the cell phone carrier’s stock after purchasing an additional 1,174 shares during the period. Laurel Wealth Advisors LLC’s holdings in Verizon Communications were worth $1,741,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in VZ. Capital Performance Advisors LLP bought a new stake in shares of Verizon Communications in the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. lifted its holdings in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the last quarter. Accordant Advisory Group Inc boosted its position in shares of Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of Verizon Communications in the third quarter worth about $44,000. Finally, McClarren Financial Advisors Inc. increased its position in shares of Verizon Communications by 762.6% in the third quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock worth $48,000 after acquiring an additional 938 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of VZ opened at $38.33 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36. The company’s fifty day moving average price is $41.17 and its 200 day moving average price is $41.76. The company has a market capitalization of $161.35 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 3.05 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. The company had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 EPS. As a group, analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 7.07%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s payout ratio is presently 116.81%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of research analyst reports. UBS Group increased their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Tigress Financial raised their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Scotiabank boosted their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Royal Bank of Canada lifted their price objective on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Finally, Sanford C. Bernstein assumed coverage on Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.54.

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).