Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 217.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,266 shares of the cell phone carrier's stock after purchasing an additional 134,517 shares during the period. Cohen Investment Advisors LLC's holdings in Verizon Communications were worth $8,903,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Crescent Sterling Ltd. boosted its stake in Verizon Communications by 0.8% during the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after purchasing an additional 235 shares during the period. Bernard Wealth Management Corp. boosted its stake in 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 purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC boosted its stake in 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 purchasing an additional 244 shares during the period. NCM Capital Management LLC boosted its stake in Verizon Communications by 1.4% during the 4th quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier's stock worth $735,000 after purchasing an additional 245 shares during the period. Finally, CRA Financial Services LLC boosted its stake in Verizon Communications by 3.7% during the 1st quarter. CRA Financial Services LLC now owns 6,913 shares of the cell phone carrier's stock worth $314,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of VZ opened at $42.32 on Friday. The company has a market capitalization of $178.41 billion, a PE ratio of 10.08, a P/E/G ratio of 3.14 and a beta of 0.38. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $47.36. The company has a 50-day simple moving average of $43.15 and a 200-day simple moving average of $42.21. 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 (NYSE:VZ - Get Free Report) last issued 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 firm had revenue of $33.50 billion for the quarter, compared to analysts' expectations 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 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.6775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.40%. Verizon Communications's payout ratio is 64.52%.

Analyst Ratings Changes

A number of analysts recently weighed in on VZ shares. Scotiabank increased 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. Wall Street Zen downgraded shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Evercore ISI upgraded shares of Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price objective for the company in a research report on Friday, April 11th. Wolfe Research downgraded shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Finally, Oppenheimer upped their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $47.41.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 5,000 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $42.48, for a total transaction of $212,400.00. Following the sale, the chief executive officer now directly owns 36,508 shares of the company's stock, valued at $1,550,859.84. This trade represents a 12.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 21,500 shares of company stock valued at $938,400. Insiders own 0.10% of the company's stock.

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).

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