Aviance Capital Partners LLC Has $1.58 Million Holdings in Verizon Communications Inc. (NYSE:VZ)

Aviance Capital Partners LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 19.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,601 shares of the cell phone carrier’s stock after buying an additional 6,091 shares during the period. Aviance Capital Partners LLC’s holdings in Verizon Communications were worth $1,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in VZ. LFA Lugano Financial Advisors SA increased its holdings in 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 worth $25,000 after buying an additional 565 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in Verizon Communications during the fourth quarter worth $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications during the fourth quarter worth $29,000. Morton Brown Family Wealth LLC increased its holdings in Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after buying an additional 488 shares during the last quarter. 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 institutional investors and hedge funds.

Verizon Communications Price Performance

VZ traded up $0.50 on Monday, hitting $41.74. 2,186,376 shares of the stock were exchanged, compared to its average volume of 18,804,361. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The business has a 50-day moving average of $40.07 and a two-hundred day moving average of $40.06. 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 firm has a market capitalization of $175.69 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 3.75 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data 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 net margin of 8.44% and a return on equity of 20.41%. The business had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. Verizon Communications’s revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.665 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.37%. Verizon Communications’s dividend payout ratio is 99.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, April 2nd. Tigress Financial upped their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Monday. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.14.

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).