Wealth Management Partners LLC Has $508,000 Stake in Verizon Communications Inc. (NYSE:VZ)

Wealth Management Partners LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,195 shares of the cell phone carrier’s stock after buying an additional 529 shares during the quarter. Wealth Management Partners LLC’s holdings in Verizon Communications were worth $508,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new stake in Verizon Communications during the fourth quarter worth $28,000. Mattson Financial Services LLC increased its holdings in Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 415 shares during the period. Capital A Wealth Management LLC acquired a new stake in Verizon Communications in the fourth quarter valued at $32,000. Graney & King LLC bought a new stake in Verizon Communications during the fourth quarter valued at $32,000. Finally, Compass Financial Services Inc bought a new stake in Verizon Communications during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE VZ opened at $43.33 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The stock’s fifty day moving average price is $43.51 and its 200 day moving average price is $42.26. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The company has a market cap of $182.69 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 4.45 and a beta of 0.39.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. The company had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total transaction of $329,100.00. Following the sale, the chief executive officer now directly owns 19,008 shares in the company, valued at $834,071.04. This trade represents a 28.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VZ. Scotiabank increased their price objective on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Wolfe Research lowered shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Oppenheimer raised their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Finally, Evercore ISI raised shares of Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 price objective for the company in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.41.

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).