Meridian Wealth Management LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 86.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,309 shares of the cell phone carrier’s stock after buying an additional 7,544 shares during the period. Meridian Wealth Management LLC’s holdings in Verizon Communications were worth $728,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Verizon Communications in the first quarter valued at $136,000. American Beacon Advisors Inc. acquired a new stake in Verizon Communications in the first quarter valued at $140,000. Proficio Capital Partners LLC lifted its holdings in Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after acquiring an additional 1,841 shares during the period. Camarda Financial Advisors LLC lifted its holdings in Verizon Communications by 11.3% in the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after acquiring an additional 382 shares during the period. Finally, Feltz Wealth PLAN Inc. acquired a new stake in Verizon Communications in the first quarter valued at $184,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Verizon Communications Inc. (NYSE VZ) traded up 0.16% during mid-day trading on Friday, reaching $49.49. The company’s stock had a trading volume of 13,021,697 shares. The firm has a market capitalization of $201.89 billion, a price-to-earnings ratio of 12.72 and a beta of 0.57. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83. The firm has a 50-day moving average of $48.00 and a 200 day moving average of $47.06.

Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. During the same period in the prior year, the business posted $0.94 earnings per share. Verizon Communications’s revenue was up .1% compared to the same quarter last year. Equities analysts expect that Verizon Communications Inc. will post $3.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.77%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, October 6th. Verizon Communications’s dividend payout ratio is currently 59.23%.

TRADEMARK VIOLATION WARNING: “Meridian Wealth Management LLC Has $728,000 Position in Verizon Communications Inc. (VZ)” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.watchlistnews.com/meridian-wealth-management-llc-has-728000-position-in-verizon-communications-inc-vz/1601554.html.

In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $47.74, for a total value of $29,121.40. Following the completion of the sale, the executive vice president now directly owns 7,819 shares of the company’s stock, valued at approximately $373,279.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 1,830 shares of company stock valued at $88,828. 0.13% of the stock is currently owned by company insiders.

VZ has been the subject of a number of recent analyst reports. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 target price for the company in a report on Wednesday, July 5th. Royal Bank Of Canada reissued a “hold” rating and issued a $48.00 target price on shares of Verizon Communications in a report on Sunday, July 9th. Zacks Investment Research raised Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Verizon Communications in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $53.00.

Verizon Communications Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.