PDS Planning Inc Buys 741 Shares of Verizon Communications Inc. (NYSE:VZ)

PDS Planning Inc raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 7.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,508 shares of the cell phone carrier’s stock after purchasing an additional 741 shares during the quarter. PDS Planning Inc’s holdings in Verizon Communications were worth $611,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Insight Folios Inc increased its holdings in shares of Verizon Communications by 5.0% during the 1st quarter. Insight Folios Inc now owns 61,739 shares of the cell phone carrier’s stock worth $3,590,000 after purchasing an additional 2,921 shares during the period. Beacon Financial Advisory LLC increased its holdings in shares of Verizon Communications by 24.4% during the 1st quarter. Beacon Financial Advisory LLC now owns 16,951 shares of the cell phone carrier’s stock worth $986,000 after purchasing an additional 3,324 shares during the period. Busey Wealth Management increased its holdings in shares of Verizon Communications by 5.8% during the 1st quarter. Busey Wealth Management now owns 319,809 shares of the cell phone carrier’s stock worth $18,597,000 after purchasing an additional 17,416 shares during the period. SevenBridge Financial Group LLC increased its holdings in shares of Verizon Communications by 4.4% during the 1st quarter. SevenBridge Financial Group LLC now owns 70,552 shares of the cell phone carrier’s stock worth $4,103,000 after purchasing an additional 2,985 shares during the period. Finally, Hennessy Advisors Inc. increased its holdings in shares of Verizon Communications by 33.2% during the 1st quarter. Hennessy Advisors Inc. now owns 204,750 shares of the cell phone carrier’s stock worth $11,906,000 after purchasing an additional 51,050 shares during the period. Institutional investors own 64.85% of the company’s stock.

In other news, EVP Craig L. Silliman sold 1,555 shares of the stock in a transaction on Monday, April 5th. The shares were sold at an average price of $58.53, for a total transaction of $91,014.15. Following the completion of the sale, the executive vice president now owns 36,242 shares of the company’s stock, valued at $2,121,244.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

A number of research firms have commented on VZ. Oppenheimer restated a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, March 3rd. Scotiabank downgraded shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 25th. Credit Suisse Group dropped their price target on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, January 19th. Tigress Financial raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 30th. Finally, Bank of America reissued a “buy” rating and set a $64.00 price target on shares of Verizon Communications in a research note on Thursday, March 11th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average price target of $62.69.

Shares of VZ stock opened at $58.14 on Thursday. The firm has a fifty day moving average of $57.16 and a 200-day moving average of $57.94. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. Verizon Communications Inc. has a 12-month low of $52.85 and a 12-month high of $61.95. The company has a market capitalization of $240.70 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 3.54 and a beta of 0.44.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 20th. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.02. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The company had revenue of $32.87 billion during the quarter, compared to the consensus estimate of $32.47 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Verizon Communications Inc. will post 4.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Friday, April 9th will be given a dividend of $0.6275 per share. This represents a $2.51 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Thursday, April 8th. Verizon Communications’s dividend payout ratio is 52.18%.

Verizon Communications Company Profile

Verizon Communications Inc offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices, such as smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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