Chapin Davis Inc. Boosts Holdings in Verizon Communications Inc. (NYSE:VZ)

Chapin Davis Inc. lifted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 35.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,732 shares of the cell phone carrier's stock after acquiring an additional 11,469 shares during the quarter. Chapin Davis Inc.'s holdings in Verizon Communications were worth $1,984,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VZ. Brighton Jones LLC increased its holdings in shares of Verizon Communications by 61.2% in the fourth 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 period. Navellier & Associates Inc. increased its holdings in Verizon Communications by 28.6% in the 4th quarter. Navellier & Associates Inc. now owns 30,344 shares of the cell phone carrier's stock worth $1,213,000 after buying an additional 6,756 shares during the period. Callan Capital LLC increased its holdings in Verizon Communications by 18.2% in the 4th quarter. Callan Capital LLC now owns 7,676 shares of the cell phone carrier's stock worth $307,000 after buying an additional 1,180 shares during the period. Fisher Funds Management LTD acquired a new stake in shares of Verizon Communications in the fourth quarter worth $16,593,000. Finally, ST. Nicholas Private Asset Management Inc. acquired a new stake in shares of Verizon Communications in the fourth quarter worth $2,434,000. Institutional investors own 62.06% of the company's stock.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 7,500 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total transaction of $329,100.00. Following the completion of the sale, the chief executive officer now owns 19,008 shares of the company's stock, valued at $834,071.04. This trade represents a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is currently owned by insiders.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $41.70 on Monday. The firm has a 50-day simple moving average of $43.32 and a 200-day simple moving average of $42.21. The stock has a market capitalization of $175.80 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 3.09 and a beta of 0.38. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. 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 released its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. On average, equities analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.6775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.50%. Verizon Communications's dividend payout ratio is presently 64.52%.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 target price on the stock in a report on Friday, April 11th. Scotiabank raised their target price on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. Wall Street Zen cut shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Wolfe Research cut shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Finally, 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 report on Tuesday, March 25th. Nine equities research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $47.41.

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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