WealthPLAN Partners LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 10.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,747 shares of the cell phone carrier’s stock after buying an additional 3,404 shares during the quarter. WealthPLAN Partners LLC’s holdings in Verizon Communications were worth $2,125,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. United Bank increased its holdings in Verizon Communications by 8.9% in the second quarter. United Bank now owns 42,051 shares of the cell phone carrier’s stock valued at $2,116,000 after buying an additional 3,441 shares during the last quarter. Private Management Group Inc. increased its holdings in Verizon Communications by 3.7% in the second quarter. Private Management Group Inc. now owns 795,200 shares of the cell phone carrier’s stock valued at $40,007,000 after buying an additional 28,525 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Verizon Communications by 0.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 543,944 shares of the cell phone carrier’s stock valued at $27,367,000 after buying an additional 2,416 shares during the last quarter. Woodmont Investment Counsel LLC increased its holdings in Verizon Communications by 3.3% in the second quarter. Woodmont Investment Counsel LLC now owns 171,472 shares of the cell phone carrier’s stock valued at $8,627,000 after buying an additional 5,522 shares during the last quarter. Finally, Avestar Capital LLC increased its holdings in Verizon Communications by 169.3% in the second quarter. Avestar Capital LLC now owns 6,801 shares of the cell phone carrier’s stock valued at $320,000 after buying an additional 4,276 shares during the last quarter. 65.90% of the stock is currently owned by institutional investors.

In related news, Director Lowell C. Mcadam sold 285,988 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the completion of the transaction, the director now directly owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.12, for a total value of $77,054.88. Following the completion of the transaction, the executive vice president now directly owns 25,549 shares of the company’s stock, valued at $1,459,358.88. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Several brokerages recently weighed in on VZ. ValuEngine lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Saturday, January 26th. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Morgan Stanley lowered Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a report on Wednesday, December 12th. Finally, JPMorgan Chase & Co. lowered Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 target price for the company. in a report on Sunday, December 9th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $55.76.

NYSE:VZ opened at $58.39 on Friday. The company has a market cap of $241.03 billion, a PE ratio of 12.40, a P/E/G ratio of 2.27 and a beta of 0.50. Verizon Communications Inc. has a 52 week low of $46.08 and a 52 week high of $61.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.03. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. The company had revenue of $34.28 billion during the quarter, compared to analyst estimates of $34.45 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Verizon Communications Inc. will post 4.66 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.

COPYRIGHT VIOLATION NOTICE: “WealthPLAN Partners LLC Has $2.13 Million Position in Verizon Communications Inc. (VZ)” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.watchlistnews.com/wealthplan-partners-llc-has-2-13-million-position-in-verizon-communications-inc-vz/2896919.html.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

Read More: What are the reasons investors use put options?

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

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