Retirement Planning Group LLC NY Invests $511,000 in Verizon Communications Inc. (NYSE:VZ)

Retirement Planning Group LLC NY bought a new position in Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 12,787 shares of the cell phone carrier’s stock, valued at approximately $511,000.

Several other institutional investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications in the 4th quarter worth approximately $28,000. Graney & King LLC purchased a new stake in shares of Verizon Communications in the 4th quarter worth approximately $32,000. Compass Financial Services Inc purchased a new stake in shares of Verizon Communications in the 4th quarter worth approximately $33,000. Banque Transatlantique SA purchased a new stake in shares of Verizon Communications in the 4th quarter worth approximately $35,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Verizon Communications in the 4th quarter worth approximately $38,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $43.38 on Friday. Verizon Communications Inc. has a one year low of $37.59 and a one year high of $47.36. The stock’s fifty day moving average is $43.60 and its 200 day moving average is $42.11. The stock has a market cap of $182.91 billion, a P/E ratio of 10.48, a P/E/G ratio of 4.45 and a beta of 0.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. The company had revenue of $33.50 billion for the quarter, compared to analysts’ expectations of $33.31 billion. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.6775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.25%. Verizon Communications’s dividend payout ratio is currently 64.52%.

Analysts Set New Price Targets

Several brokerages have commented on VZ. Tigress Financial increased their target price on Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Evercore ISI upgraded Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Friday, April 11th. Scotiabank increased their target price on Verizon Communications from $48.50 to $49.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 23rd. Finally, Wolfe Research downgraded Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.41.

Insider Buying and Selling

In other Verizon Communications news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the sale, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at $633,159.61. This trade represents a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kyle Malady sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $42.48, for a total value of $212,400.00. Following the sale, the chief executive officer now directly owns 36,508 shares in the company, valued at approximately $1,550,859.84. This represents a 12.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,500 shares of company stock valued at $1,376,300. 0.10% of the stock is owned by company insiders.

Verizon Communications 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).