7,695 Shares in Verizon Communications Inc. (NYSE:VZ) Acquired by Clearwater Capital Advisors LLC

Key Points

• Clearwater Capital Advisors LLC acquired 7,695 shares of Verizon Communications Inc. (NYSE:VZ) during the first quarter, valued at approximately $349,000.
• Verizon reported earnings of $1.22 per share for the latest quarter, surpassing analysts' expectations, and had quarterly revenue of $34.50 billion, a 5.2% increase year-over-year.
• The company declared a quarterly dividend of $0.6775, with an annualized dividend yield of 6.3%.

Clearwater Capital Advisors LLC bought a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,695 shares of the cell phone carrier's stock, valued at approximately $349,000.

Several other hedge funds have also bought and sold shares of the stock. Bernard Wealth Management Corp. raised its position in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC increased its stake in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. Garde Capital Inc. bought a new position in Verizon Communications in the first quarter valued at $26,000. Mattson Financial Services LLC raised its position in Verizon Communications by 114.6% during 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 in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Verizon Communications during the fourth quarter worth about $32,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Verizon Communications stock opened at $42.84 on Friday. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The firm has a market cap of $180.63 billion, a P/E ratio of 9.99, a P/E/G ratio of 3.30 and a beta of 0.36. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average of $42.75 and a 200-day moving average of $42.66.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the firm earned $1.15 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's dividend payout ratio is presently 63.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Bank of America boosted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.35.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the transaction, the chief executive officer owned 10,008 shares of the company's stock, valued at approximately $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.10% of the stock is currently 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).

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