Verizon Communications Inc. (NYSE:VZ) Shares Acquired by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,566 shares of the cell phone carrier’s stock after purchasing an additional 1,241 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Verizon Communications were worth $1,115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA increased its position in shares of Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 565 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Verizon Communications in the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC raised its position in Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after purchasing an additional 488 shares during the period. Finally, Vima LLC acquired a new position in Verizon Communications during the fourth quarter worth $36,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 0.5 %

Shares of NYSE VZ opened at $39.46 on Tuesday. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42. The company has a market capitalization of $166.10 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.88 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. The business has a 50-day moving average of $39.98 and a two-hundred day moving average of $39.89.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. On average, analysts forecast that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.74%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Oppenheimer reiterated an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Royal Bank of Canada upped their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.77.

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).