Kovack Advisors Inc. Raises Holdings in Verizon Communications Inc. (NYSE:VZ)

Kovack Advisors Inc. increased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 13.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,983 shares of the cell phone carrier's stock after acquiring an additional 6,660 shares during the period. Kovack Advisors Inc.'s holdings in Verizon Communications were worth $2,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in VZ. Geode Capital Management LLC boosted its stake in shares of Verizon Communications by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 96,823,092 shares of the cell phone carrier's stock valued at $3,862,441,000 after purchasing an additional 998,847 shares in the last quarter. Norges Bank purchased a new stake in shares of Verizon Communications in the 4th quarter valued at $2,300,846,000. Northern Trust Corp boosted its stake in shares of Verizon Communications by 12.4% in the 4th quarter. Northern Trust Corp now owns 45,043,310 shares of the cell phone carrier's stock valued at $1,801,282,000 after purchasing an additional 4,951,733 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Verizon Communications by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock valued at $1,555,351,000 after purchasing an additional 4,568,518 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Verizon Communications by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 36,851,192 shares of the cell phone carrier's stock valued at $1,473,557,000 after purchasing an additional 990,775 shares in the last quarter. Institutional investors own 62.06% of the company's stock.

Analyst Upgrades and Downgrades

VZ has been the subject of several analyst reports. Scotiabank increased their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 23rd. Bank of America increased their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday. Morgan Stanley increased their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $47.35.

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 quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company had revenue of $34.50 billion during the quarter, compared to analysts' expectations of $33.47 billion. During the same period last year, the company posted $1.15 EPS. Verizon Communications's revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.6775 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.29%. Verizon Communications's dividend payout ratio (DPR) is currently 63.17%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the transaction, the chief executive officer directly owned 10,008 shares of the company's stock, valued at $441,352.80. This trade represents a 47.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

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).