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Hamel Associates Inc. Grows Position in Verizon Communications Inc. (NYSE:VZ)

Verizon Communications logo with Computer and Technology background

Hamel Associates Inc. boosted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 90.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 76,752 shares of the cell phone carrier's stock after purchasing an additional 36,378 shares during the period. Hamel Associates Inc.'s holdings in Verizon Communications were worth $3,482,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. 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 valued at $25,000 after buying an additional 243 shares in the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the 1st quarter worth approximately $26,000. Cherry Tree Wealth Management LLC lifted its stake 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 purchasing an additional 244 shares in the last quarter. EQ Wealth Advisors LLC purchased a new stake in Verizon Communications in the 1st quarter worth approximately $32,000. Finally, Mattson Financial Services LLC increased its holdings in shares of Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after buying an additional 415 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

Insider Activity at Verizon Communications

In other 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 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 $441,352.80. The trade was a 47.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VZ shares. Oppenheimer increased their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Tigress Financial raised their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Wells Fargo & Company raised their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Bank of America raised their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.35.

Get Our Latest Analysis on Verizon Communications

Verizon Communications Stock Up 0.0%

NYSE VZ traded up $0.02 during trading hours on Friday, reaching $43.10. 16,557,678 shares of the company's stock traded hands, compared to its average volume of 19,882,436. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The firm has a market cap of $181.70 billion, a PE ratio of 10.05, a PEG ratio of 3.33 and a beta of 0.37. The firm has a 50-day simple moving average of $42.88 and a 200 day simple moving average of $42.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.58.

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

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.29%. Verizon Communications's dividend payout ratio is presently 63.17%.

About Verizon Communications

(Free Report)

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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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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