Opinicus Capital Inc. Purchases 1,447 Shares of Verizon Communications Inc. (NYSE:VZ)

Opinicus Capital Inc. boosted its position in Verizon Communications Inc. (NYSE:VZ) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,452 shares of the cell phone carrier’s stock after purchasing an additional 1,447 shares during the quarter. Verizon Communications makes up 1.2% of Opinicus Capital Inc.’s portfolio, making the stock its 23rd biggest position. Opinicus Capital Inc.’s holdings in Verizon Communications were worth $1,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LFA Lugano Financial Advisors SA increased its holdings 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 in the last quarter. Criterion Capital Advisors LLC bought a new stake in Verizon Communications in the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in Verizon Communications in the 4th quarter worth about $29,000. Morton Brown Family Wealth LLC increased its holdings in 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 buying an additional 488 shares in the last quarter. Finally, Vima LLC bought a new stake in Verizon Communications in the 4th quarter worth about $36,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ stock traded up $0.42 during trading hours on Friday, reaching $41.24. 27,639,192 shares of the company traded hands, compared to its average volume of 16,795,164. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42. 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 company has a market cap of $173.59 billion, a P/E ratio of 15.40, a P/E/G ratio of 3.71 and a beta of 0.42. The firm has a 50-day moving average price of $40.07 and a 200 day moving average price of $40.02.

Verizon Communications (NYSE:VZ) last posted 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. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The company had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same period in the previous year, the firm earned $1.20 EPS. The firm’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Verizon Communications 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).