Traveka Wealth LLC Purchases 889 Shares of Verizon Communications Inc. (NYSE:VZ)

Traveka Wealth LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 14.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,124 shares of the cell phone carrier’s stock after acquiring an additional 889 shares during the quarter. Traveka Wealth LLC’s holdings in Verizon Communications were worth $323,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tradewinds LLC. increased its position in Verizon Communications by 6.0% in the first quarter. Tradewinds LLC. now owns 19,833 shares of the cell phone carrier’s stock worth $900,000 after buying an additional 1,130 shares in the last quarter. Argentarii LLC increased its position in Verizon Communications by 161.9% in the first quarter. Argentarii LLC now owns 18,327 shares of the cell phone carrier’s stock worth $831,000 after buying an additional 11,328 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its position in Verizon Communications by 5.4% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 26,463 shares of the cell phone carrier’s stock worth $1,200,000 after buying an additional 1,349 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its position in Verizon Communications by 31.7% in the first quarter. McGlone Suttner Wealth Management Inc. now owns 16,762 shares of the cell phone carrier’s stock worth $760,000 after buying an additional 4,039 shares in the last quarter. Finally, Viewpoint Capital Management LLC purchased a new stake in Verizon Communications in the first quarter worth about $219,000. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on VZ shares. Scotiabank upped their price target on Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada restated a “sector perform” rating and issued a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Wall Street Zen cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Wolfe Research cut Verizon Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, March 12th. Finally, Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.25.

Verizon Communications Stock Performance

NYSE VZ opened at $43.62 on Friday. The stock has a market capitalization of $183.91 billion, a PE ratio of 10.39, a P/E/G ratio of 3.23 and a beta of 0.37. The business has a 50 day simple moving average of $43.23 and a two-hundred day simple moving average of $42.29. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.61 and a quick ratio of 0.58. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $33.50 billion during the quarter, compared to analysts’ expectations of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. On average, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date is Thursday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is 64.52%.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the transaction, the chief executive officer owned 10,008 shares in the company, valued at approximately $441,352.80. The trade was a 47.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is currently owned by 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).