JustInvest LLC Takes Position in Verizon Communications Inc. (NYSE:VZ)

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JustInvest LLC bought a new stake in Verizon Communications Inc. (NYSE:VZ) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,692 shares of the cell phone carrier’s stock, valued at approximately $789,000.

A number of other large investors have also recently modified their holdings of VZ. TLW Wealth Management LLC raised its holdings in Verizon Communications by 0.3% in the fourth quarter. TLW Wealth Management LLC now owns 98,830 shares of the cell phone carrier’s stock valued at $6,068,000 after acquiring an additional 335 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in Verizon Communications by 7.2% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 144,943 shares of the cell phone carrier’s stock valued at $8,899,000 after acquiring an additional 9,683 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Verizon Communications by 0.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 280,319 shares of the cell phone carrier’s stock valued at $17,212,000 after acquiring an additional 1,080 shares in the last quarter. Insight Folios Inc acquired a new stake in Verizon Communications in the fourth quarter valued at approximately $3,601,000. Finally, S.A. Mason LLC acquired a new stake in Verizon Communications in the fourth quarter valued at approximately $855,000. 65.45% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Verizon Communications from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. Morgan Stanley cut their price objective on shares of Verizon Communications from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, April 17th. Nomura reissued a “hold” rating and set a $61.00 price objective on shares of Verizon Communications in a report on Sunday, April 26th. Credit Suisse Group cut their price objective on shares of Verizon Communications from $65.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Finally, ValuEngine cut shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Friday, May 1st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $61.63.

NYSE:VZ traded up $0.11 during midday trading on Tuesday, reaching $55.89. The stock had a trading volume of 8,266,834 shares, compared to its average volume of 15,706,547. The stock has a market cap of $237.44 billion, a P/E ratio of 12.62, a P/E/G ratio of 3.85 and a beta of 0.47. Verizon Communications Inc. has a 12-month low of $48.84 and a 12-month high of $62.22. The firm has a fifty day simple moving average of $56.44 and a two-hundred day simple moving average of $57.87. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 2.02.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, April 24th. The cell phone carrier reported $1.26 EPS for the quarter, topping the consensus estimate of $1.22 by $0.04. The company had revenue of $31.81 billion for the quarter, compared to analyst estimates of $32.37 billion. Verizon Communications had a net margin of 14.00% and a return on equity of 33.26%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.77 earnings per share for the current fiscal year.

Verizon Communications declared that its board has initiated a stock repurchase program on Thursday, February 6th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the cell phone carrier to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In other Verizon Communications news, SVP Anthony T. Skiadas sold 10,744 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $57.10, for a total transaction of $613,482.40. Following the sale, the senior vice president now directly owns 27,501 shares in the company, valued at approximately $1,570,307.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by insiders.

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.

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

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