Benjamin F. Edwards & Company Inc. Purchases 815,704 Shares of Verizon Communications Inc. (NYSE:VZ)

Benjamin F. Edwards & Company Inc. raised its position in Verizon Communications Inc. (NYSE:VZFree Report) by 615.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 948,322 shares of the cell phone carrier’s stock after acquiring an additional 815,704 shares during the quarter. Verizon Communications makes up 0.7% of Benjamin F. Edwards & Company Inc.’s portfolio, making the stock its 29th biggest holding. Benjamin F. Edwards & Company Inc.’s holdings in Verizon Communications were worth $35,752,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VZ. Simon Quick Advisors LLC increased its position in Verizon Communications by 15.4% in the third quarter. Simon Quick Advisors LLC now owns 16,999 shares of the cell phone carrier’s stock worth $551,000 after buying an additional 2,266 shares in the last quarter. Capital Advisors Inc. OK grew its position in shares of Verizon Communications by 2.8% during the third quarter. Capital Advisors Inc. OK now owns 641,118 shares of the cell phone carrier’s stock worth $20,779,000 after purchasing an additional 17,700 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Verizon Communications by 6.9% during the third quarter. Stratos Wealth Partners LTD. now owns 325,373 shares of the cell phone carrier’s stock worth $10,545,000 after purchasing an additional 21,026 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in shares of Verizon Communications by 41.0% during the third quarter. Stratos Wealth Advisors LLC now owns 107,934 shares of the cell phone carrier’s stock worth $3,498,000 after purchasing an additional 31,378 shares in the last quarter. Finally, Iowa State Bank grew its position in shares of Verizon Communications by 1.3% during the third quarter. Iowa State Bank now owns 38,476 shares of the cell phone carrier’s stock worth $1,247,000 after purchasing an additional 507 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

VZ has been the subject of several research analyst reports. UBS Group increased their target price on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Citigroup increased their target price on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Oppenheimer reiterated an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Wells Fargo & Company cut 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, StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $44.21.

Check Out Our Latest Analysis on Verizon Communications

Verizon Communications Trading Down 0.7 %

VZ traded down $0.27 during trading hours on Thursday, reaching $38.93. 17,248,660 shares of the company’s stock traded hands, compared to its average volume of 20,096,395. The firm has a 50-day moving average price of $40.40 and a 200 day moving average price of $38.74. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.42. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $163.87 billion, a PE ratio of 14.54, a PEG ratio of 2.86 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The company had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the previous year, the business earned $1.20 EPS. Verizon Communications’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s payout ratio is currently 99.25%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 15,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $40.33, for a total value of $604,950.00. Following the completion of the sale, the chief executive officer now directly owns 59,201 shares in the company, valued at approximately $2,387,576.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.02% of the company’s stock.

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).

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

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