Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,938 shares of the cell phone carrier’s stock after acquiring an additional 1,082 shares during the period. Providence Capital Advisors LLC’s holdings in Verizon Communications were worth $3,197,000 as of its most recent SEC filing.

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

Verizon Communications Stock Performance

NYSE VZ opened at $44.99 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The business’s 50 day moving average is $41.98 and its two-hundred day moving average is $42.07. The stock has a market capitalization of $189.38 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 4.45 and a beta of 0.41. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $47.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data 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 in the previous year, the firm posted $1.08 earnings per share. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction on 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 approximately $1,851,664.50. This represents a 30.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VZ shares. Tigress Financial restated a “buy” rating and set a $55.00 price objective on shares of Verizon Communications in a research report on Thursday, January 30th. UBS Group boosted their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, January 29th. Wolfe Research downgraded Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.71.

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).