Verizon Communications Inc. (NYSE:VZ) Shares Bought by Alliance Wealth Advisors LLC UT

Alliance Wealth Advisors LLC UT grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,252 shares of the cell phone carrier’s stock after purchasing an additional 518 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in Verizon Communications were worth $2,309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at about $1,179,000. Terril Brothers Inc. raised its holdings in Verizon Communications by 86.6% in the 4th quarter. Terril Brothers Inc. now owns 581,339 shares of the cell phone carrier’s stock valued at $21,916,000 after buying an additional 269,845 shares during the period. Headlands Technologies LLC purchased a new stake in Verizon Communications in the 4th quarter valued at about $1,104,000. Citizens Financial Group Inc. RI increased its stake in Verizon Communications by 3.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 72,957 shares of the cell phone carrier’s stock worth $2,750,000 after purchasing an additional 2,621 shares during the period. Finally, Raab & Moskowitz Asset Management LLC grew its position in shares of Verizon Communications by 4.7% during the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 58,937 shares of the cell phone carrier’s stock worth $2,222,000 after buying an additional 2,623 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE:VZ traded up $0.46 during trading hours on Friday, hitting $39.68. The company’s stock had a trading volume of 18,246,244 shares, compared to its average volume of 18,678,804. The business’s 50-day moving average is $40.46 and its two-hundred day moving average is $38.51. The company has a market capitalization of $166.83 billion, a PE ratio of 14.81, a PEG ratio of 2.84 and a beta of 0.41. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.65 and a current ratio of 0.71. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.42.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter last year, the business posted $1.20 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s payout ratio is currently 99.25%.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. Following the sale, the chief executive officer now directly owns 35,201 shares in the company, valued at approximately $1,436,200.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the subject of a number of analyst reports. UBS Group boosted their price objective on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Raymond James upped their price target on Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada upped their price target on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, April 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.21.

Verizon Communications Company 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).