Koshinski Asset Management Inc. Increases Stock Position in Verizon Communications Inc. (NYSE:VZ)

Koshinski Asset Management Inc. lifted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 25.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,265 shares of the cell phone carrier's stock after acquiring an additional 27,735 shares during the quarter. Verizon Communications accounts for about 0.8% of Koshinski Asset Management Inc.'s holdings, making the stock its 19th biggest position. Koshinski Asset Management Inc.'s holdings in Verizon Communications were worth $5,099,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VZ. BCK Partners Inc. acquired a new position in shares of Verizon Communications during the 1st quarter worth approximately $2,101,000. Axiom Financial Strategies LLC raised its position in shares of Verizon Communications by 8.9% during the 1st quarter. Axiom Financial Strategies LLC now owns 5,980 shares of the cell phone carrier's stock worth $279,000 after purchasing an additional 487 shares during the last quarter. Ergoteles LLC raised its position in shares of Verizon Communications by 174.0% during the 1st quarter. Ergoteles LLC now owns 91,776 shares of the cell phone carrier's stock worth $4,675,000 after purchasing an additional 58,283 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Verizon Communications by 10.5% during the 1st quarter. Mackenzie Financial Corp now owns 1,194,111 shares of the cell phone carrier's stock worth $60,828,000 after purchasing an additional 113,032 shares during the last quarter. Finally, First Western Trust Bank acquired a new position in shares of Verizon Communications during the 1st quarter worth approximately $567,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com downgraded Verizon Communications from a "buy" rating to a "hold" rating in a report on Wednesday, January 31st. Oppenheimer reiterated an "outperform" rating and issued a $48.00 price target on shares of Verizon Communications in a report on Wednesday, April 3rd. KeyCorp upped their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, January 24th. Daiwa Capital Markets upgraded Verizon Communications from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $36.00 to $47.00 in a report on Wednesday, January 24th. Finally, Barclays upped their price objective on Verizon Communications from $42.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, January 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $44.50.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total value of $979,200.00. Following the sale, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is owned by company insiders.

Verizon Communications Stock Performance

VZ traded down $0.45 on Friday, hitting $39.71. 21,546,104 shares of the company's stock were exchanged, compared to its average volume of 19,838,215. The firm has a market cap of $166.95 billion, a PE ratio of 14.39, a P/E/G ratio of 3.31 and a beta of 0.41. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.42. The stock has a fifty day moving average of $40.60 and a two-hundred day moving average of $37.98. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The firm had revenue of $35.10 billion for the quarter, compared to analyst estimates of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. Verizon Communications's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. On average, research analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.70%. Verizon Communications's payout ratio is currently 96.38%.

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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