Verizon Communications Inc. (NYSE:VZ) Stock Holdings Lifted by Gallagher Capital Advisors LLC

Gallagher Capital Advisors LLC lifted its position in Verizon Communications Inc. (NYSE:VZ) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,101 shares of the cell phone carrier’s stock after acquiring an additional 687 shares during the period. Verizon Communications comprises approximately 1.6% of Gallagher Capital Advisors LLC’s holdings, making the stock its 23rd largest position. Gallagher Capital Advisors LLC’s holdings in Verizon Communications were worth $2,046,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. boosted its holdings in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC boosted its holdings in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the first quarter worth approximately $26,000. Mainstream Capital Management LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth approximately $28,000. Finally, Mattson Financial Services LLC boosted its holdings in shares of Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 415 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total value of $396,900.00. Following the transaction, the chief executive officer now owns 10,008 shares of the company’s stock, valued at $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 21,500 shares of company stock valued at $938,400 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on VZ shares. Evercore ISI upgraded shares of Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Friday, April 11th. Oppenheimer raised their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Tigress Financial raised their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Wall Street Zen cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, Wolfe Research cut shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.41.

Verizon Communications Trading Up 1.6%

NYSE:VZ opened at $42.35 on Tuesday. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The firm has a market cap of $178.56 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 3.09 and a beta of 0.38. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $43.28 and its 200-day moving average is $42.21.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. The company had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend is Thursday, July 10th. Verizon Communications’s dividend payout ratio is 64.52%.

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).