CapWealth Advisors LLC Raises Stake in Verizon Communications Inc. (NYSE:VZ)

CapWealth Advisors LLC lifted its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,186 shares of the cell phone carrier's stock after buying an additional 16,776 shares during the quarter. Verizon Communications makes up about 1.9% of CapWealth Advisors LLC's holdings, making the stock its 22nd biggest holding. CapWealth Advisors LLC's holdings in Verizon Communications were worth $17,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ. Brighton Jones LLC grew its position in Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after purchasing an additional 16,704 shares during the last quarter. Proficio Capital Partners LLC grew its position in Verizon Communications by 64.4% during the 4th quarter. Proficio Capital Partners LLC now owns 11,127 shares of the cell phone carrier's stock valued at $445,000 after purchasing an additional 4,360 shares during the last quarter. Kendall Capital Management grew its position in Verizon Communications by 12.1% during the 4th quarter. Kendall Capital Management now owns 5,099 shares of the cell phone carrier's stock valued at $204,000 after purchasing an additional 549 shares during the last quarter. Argentarii LLC purchased a new stake in Verizon Communications during the 4th quarter valued at about $280,000. Finally, AlphaQuest LLC boosted its holdings in shares of Verizon Communications by 2,921.2% during the 4th quarter. AlphaQuest LLC now owns 26,466 shares of the cell phone carrier's stock valued at $1,058,000 after acquiring an additional 25,590 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

NYSE VZ traded up $0.26 during trading hours on Tuesday, hitting $43.06. 16,723,496 shares of the company's stock traded hands, compared to its average volume of 20,125,634. The business's fifty day moving average price is $43.24 and its two-hundred day moving average price is $42.33. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $181.55 billion, a P/E ratio of 10.25, a P/E/G ratio of 3.23 and a beta of 0.37. Verizon Communications Inc. has a 52 week low of $37.59 and a 52 week high of $47.36.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $33.50 billion during the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. Equities research analysts predict 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 will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend is Thursday, July 10th. Verizon Communications's dividend payout ratio is currently 64.52%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the transaction, the chief executive officer owned 10,008 shares of the company's stock, valued at $441,352.80. The trade was a 47.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 21,500 shares of company stock worth $938,400 over the last quarter. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on VZ shares. Oppenheimer lifted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Wolfe Research lowered shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $45.00 price target (up from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Scotiabank lifted their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 23rd. Finally, Bank of America started coverage on shares of Verizon Communications in a research note on Monday. They issued a "neutral" rating and a $45.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Verizon Communications has an average rating of "Moderate Buy" and a consensus price target of $47.25.

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).