American Alpha Advisors LLC Makes New Investment in Verizon Communications Inc. (NYSE:VZ)

Key Points

• American Alpha Advisors LLC acquired a new position in Verizon Communications Inc. with 10,089 shares valued at approximately $458,000, reflecting positive institutional interest in the company.
• Verizon's recent quarterly earnings exceeded analysts' expectations, reporting $1.22 EPS on revenues of $34.50 billion, which represents a 5.2% year-over-year increase.
• The company declared a quarterly dividend of $0.6775 per share, leading to an annualized dividend yield of 6.3% for investors.

American Alpha Advisors LLC acquired a new position in Verizon Communications Inc. (NYSE:VZ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,089 shares of the cell phone carrier's stock, valued at approximately $458,000.

Other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. grew its stake in shares of Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC raised its position in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after buying an additional 244 shares during the last quarter. Garde Capital Inc. purchased a new position in Verizon Communications in the 1st quarter worth about $26,000. Accent Capital Management LLC bought a new position in Verizon Communications during the 1st quarter valued at about $30,000. Finally, Mattson Financial Services LLC lifted its stake in Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock valued at $31,000 after acquiring an additional 415 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Up 0.4%

VZ stock opened at $43.12 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The stock has a market cap of $181.81 billion, a P/E ratio of 10.05, a PEG ratio of 3.33 and a beta of 0.36. The business's 50-day moving average price is $42.69 and its 200-day moving average price is $42.83.

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

Verizon Communications Announces Dividend

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

Analyst Upgrades and Downgrades

VZ has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Royal Bank Of Canada upped their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Scotiabank upped their target price on shares of Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 23rd. Tigress Financial upped their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Finally, Morgan Stanley upped their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Eleven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Verizon Communications presently has an average rating of "Moderate Buy" and an average target price of $47.35.

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).

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