Paragon Private Wealth Management LLC Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)

Paragon Private Wealth Management LLC increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,746 shares of the cell phone carrier’s stock after purchasing an additional 438 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Verizon Communications were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. First Personal Financial Services grew its holdings in Verizon Communications by 0.3% in the 3rd quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock valued at $4,091,000 after buying an additional 250 shares during the period. Encompass Wealth Advisors LLC grew its holdings in Verizon Communications by 2.0% in the 3rd quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock valued at $562,000 after buying an additional 250 shares during the period. Kirtland Hills Capital Management LLC grew its holdings in Verizon Communications by 2.4% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after buying an additional 252 shares during the period. First Dallas Securities Inc. grew its holdings in Verizon Communications by 0.8% in the 3rd quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock valued at $1,425,000 after buying an additional 257 shares during the period. Finally, JB Capital LLC grew its holdings in Verizon Communications by 1.3% in the 4th quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock valued at $832,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Royal Bank of Canada lowered their price target on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. StockNews.com upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Sanford C. Bernstein started coverage on Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price objective on the stock. Argus raised Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Verizon Communications in a research note on Thursday, January 30th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.11.

Verizon Communications Price Performance

VZ stock opened at $46.13 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $46.20. The stock’s 50 day moving average is $40.61 and its two-hundred day moving average is $41.84. The company has a market capitalization of $194.20 billion, a PE ratio of 11.14, a P/E/G ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period in the previous year, the company earned $1.08 EPS. Analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.6775 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 5.87%. Verizon Communications’s dividend payout ratio is presently 65.46%.

Insiders Place Their Bets

In related news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. This represents a 40.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Malady sold 20,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.54, for a total value of $810,800.00. Following the transaction, the chief executive officer now owns 45,675 shares of the company’s stock, valued at approximately $1,851,664.50. The trade was a 30.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock worth $2,020,895 in the last three months. 0.02% of the stock is owned by insiders.

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).