Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Kathmere Capital Management LLC

Kathmere Capital Management LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 43.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,494 shares of the cell phone carrier’s stock after acquiring an additional 16,603 shares during the quarter. Kathmere Capital Management LLC’s holdings in Verizon Communications were worth $2,287,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA raised its stake in shares of Verizon Communications by 627.8% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 565 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Verizon Communications in the 4th quarter worth $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications in the 4th quarter worth $29,000. Morton Brown Family Wealth LLC grew its holdings in shares of Verizon Communications by 130.1% in the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after acquiring an additional 488 shares during the last quarter. Finally, Vima LLC acquired a new position in shares of Verizon Communications in the 4th quarter worth $36,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Up 1.1 %

VZ stock opened at $41.26 on Friday. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42. The firm has a market cap of $173.67 billion, a P/E ratio of 15.40, a P/E/G ratio of 3.71 and a beta of 0.42. The business’s 50 day moving average is $40.07 and its 200-day moving average is $40.02. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. Verizon Communications’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is 99.25%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price target for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Royal Bank of Canada lifted 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 reiterated an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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).