SVB Wealth LLC Invests $3.46 Million in Verizon Communications Inc. (NYSE:VZ)

SVB Wealth LLC bought a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 86,454 shares of the cell phone carrier’s stock, valued at approximately $3,457,000.

Several other large investors have also made changes to their positions in VZ. Austin Private Wealth LLC raised its stake in Verizon Communications by 3.0% in the 3rd quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock valued at $379,000 after purchasing an additional 243 shares during the last quarter. Cary Street Partners Asset Management LLC raised its stake in Verizon Communications by 3.4% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after purchasing an additional 249 shares during the last quarter. First Personal Financial Services raised its stake in Verizon Communications by 0.3% in the 3rd quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock valued at $4,091,000 after purchasing an additional 250 shares during the last quarter. Encompass Wealth Advisors LLC raised its stake in Verizon Communications by 2.0% in the 3rd quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock valued at $562,000 after purchasing an additional 250 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC raised its stake in Verizon Communications by 2.4% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after purchasing an additional 252 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

NYSE VZ opened at $43.12 on Friday. The stock has a market cap of $181.50 billion, a PE ratio of 10.41, a P/E/G ratio of 4.45 and a beta of 0.45. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $45.36. The stock has a fifty day simple moving average of $40.20 and a 200-day simple moving average of $41.71.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period last year, the business posted $1.08 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.29%. Verizon Communications’s payout ratio is 65.46%.

Analyst Ratings Changes

VZ has been the subject of several recent research reports. Argus raised Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, January 29th. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Tigress Financial restated a “buy” rating and issued a $55.00 target price on shares of Verizon Communications in a report on Thursday, January 30th. Finally, TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Ten investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.08.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the sale, the chief executive officer now owns 45,675 shares of the company’s stock, valued at $1,851,664.50. This trade represents a 30.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,085 shares of company stock valued at $2,020,895. Corporate insiders own 0.02% of the company’s stock.

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).