U S Wealth Group LLC. Makes New $2.18 Million Investment in Verizon Communications Inc. (NYSE:VZ)

U S Wealth Group LLC. acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 54,399 shares of the cell phone carrier’s stock, valued at approximately $2,175,000. Verizon Communications accounts for approximately 1.6% of U S Wealth Group LLC.’s portfolio, making the stock its 25th largest position.

Several other large investors have also recently bought and sold shares of VZ. Mainstream Capital Management LLC purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $28,000. Legend Financial Advisors Inc. lifted its holdings in shares of Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $32,000. Compass Financial Services Inc acquired a new stake in Verizon Communications during the 4th quarter valued at $33,000. Finally, Hager Investment Management Services LLC purchased a new stake in Verizon Communications during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VZ. Argus upgraded Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. UBS Group upped their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. StockNews.com lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Finally, Tigress Financial restated a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.82.

Verizon Communications Stock Performance

Shares of VZ opened at $43.11 on Monday. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $47.36. The firm has a market capitalization of $181.47 billion, a PE ratio of 10.41, a P/E/G ratio of 4.45 and a beta of 0.41. The firm has a 50-day moving average price of $42.68 and a 200 day moving average price of $42.09. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business posted $1.08 earnings per share. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

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

Insider Activity at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This represents a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,085 shares of company stock valued at $2,020,895. Corporate insiders own 0.03% of the company’s stock.

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).