EverSource Wealth Advisors LLC Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)

EverSource Wealth Advisors LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 71.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,560 shares of the cell phone carrier’s stock after buying an additional 5,634 shares during the period. EverSource Wealth Advisors LLC’s holdings in Verizon Communications were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VZ. Criterion Capital Advisors LLC bought a new position in Verizon Communications in the 4th quarter valued at approximately $25,000. Koesten Hirschmann & Crabtree INC. bought a new position in Verizon Communications in the 1st quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new position in Verizon Communications in the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after buying an additional 488 shares during the period. Finally, Vima LLC bought a new position in shares of Verizon Communications during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.3 %

Shares of NYSE:VZ traded up $0.12 during trading hours on Friday, hitting $40.97. 26,124,914 shares of the company’s stock traded hands, compared to its average volume of 19,305,414. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42. The business has a fifty day moving average price of $40.65 and a 200-day moving average price of $40.49. The firm has a market capitalization of $172.46 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.665 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.49%. Verizon Communications’s payout ratio is 99.25%.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. TD Cowen lifted their target price on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. decreased their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Tigress Financial raised their price target on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.68.

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).