Verizon Communications Inc. (NYSE:VZ) Shares Bought by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lifted its holdings in Verizon Communications Inc. (NYSE:VZ) by 88.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,441 shares of the cell phone carrier’s stock after acquiring an additional 38,237 shares during the period. Westwood Holdings Group Inc.’s holdings in Verizon Communications were worth $3,417,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Private Portfolio Partners LLC increased its position in shares of Verizon Communications by 0.9% in the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after purchasing an additional 255 shares during the period. BKM Wealth Management LLC increased its position in shares of Verizon Communications by 7.4% in the first quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock worth $156,000 after purchasing an additional 257 shares during the period. Western Financial Corp CA increased its position in shares of Verizon Communications by 1.7% in the fourth quarter. Western Financial Corp CA now owns 16,564 shares of the cell phone carrier’s stock worth $624,000 after purchasing an additional 271 shares during the period. Walker Asset Management LLC grew its position in Verizon Communications by 2.1% in the first quarter. Walker Asset Management LLC now owns 13,168 shares of the cell phone carrier’s stock valued at $553,000 after acquiring an additional 272 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position in Verizon Communications by 0.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 33,211 shares of the cell phone carrier’s stock valued at $1,252,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.3 %

NYSE VZ traded up $0.12 on Friday, reaching $40.97. The company had a trading volume of 26,124,914 shares, compared to its average volume of 19,305,414. The stock has a market capitalization of $172.46 billion, a P/E ratio of 15.29, a P/E/G ratio of 3.72 and a beta of 0.41. The company’s fifty day moving average is $40.65 and its 200 day moving average is $40.50. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.42. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

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 firm had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. During the same period last year, the firm posted $1.21 EPS. The business’s revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on VZ. Wells Fargo & Company decreased 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. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 price target on shares of Verizon Communications in a research note on Tuesday, July 23rd. Oppenheimer reissued an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Finally, The Goldman Sachs Group began coverage on Verizon Communications in a research note on Monday, July 1st. They set a “buy” rating and a $50.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.78.

About Verizon Communications

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).