Verizon Communications Inc. (NYSE:VZ) is Dupree Financial Group LLC's 5th Largest Position

Dupree Financial Group LLC lifted its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 114.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,891 shares of the cell phone carrier's stock after acquiring an additional 144,432 shares during the period. Verizon Communications accounts for approximately 5.0% of Dupree Financial Group LLC's holdings, making the stock its 5th biggest holding. Dupree Financial Group LLC's holdings in Verizon Communications were worth $12,288,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Bernard Wealth Management Corp. lifted its stake 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 worth $25,000 after acquiring an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC lifted its stake in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Garde Capital Inc. bought a new stake in shares of Verizon Communications during the 1st quarter worth approximately $26,000. Mattson Financial Services LLC lifted its stake in shares of Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after acquiring an additional 415 shares during the last quarter. Finally, Graney & King LLC bought a new stake in shares of Verizon Communications during the 4th quarter worth approximately $32,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Down 1.7%

Shares of NYSE VZ traded down $0.75 during mid-day trading on Monday, reaching $42.80. 21,991,049 shares of the company were exchanged, compared to its average volume of 20,139,095. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. The stock has a market cap of $180.46 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 3.23 and a beta of 0.37. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The firm has a 50-day moving average of $43.23 and a 200 day moving average of $42.31.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The firm had revenue of $33.50 billion during the quarter, compared to analysts' expectations of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. On average, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date is Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is presently 64.52%.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the sale, the chief executive officer directly owned 10,008 shares in the company, valued at approximately $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 21,500 shares of company stock valued at $938,400 in the last three months. Company insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VZ. Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target for the company in a research note on Friday, April 11th. Scotiabank lifted their target price on Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 23rd. Wall Street Zen lowered Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Tigress Financial lifted their target price on Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, Wolfe Research lowered Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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).