Lee Financial Group Hawaii Inc. Has $585,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

Lee Financial Group Hawaii Inc. lifted its position in Verizon Communications Inc. (NYSE:VZFree Report) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,517 shares of the cell phone carrier’s stock after acquiring an additional 2,104 shares during the period. Verizon Communications comprises approximately 0.5% of Lee Financial Group Hawaii Inc.’s holdings, making the stock its 19th largest position. Lee Financial Group Hawaii Inc.’s holdings in Verizon Communications were worth $585,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. LFA Lugano Financial Advisors SA grew its position in Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 565 shares in the last quarter. CGC Financial Services LLC purchased a new position in shares of Verizon Communications during the 2nd quarter valued at $32,000. HBC Financial Services PLLC grew its holdings in shares of Verizon Communications by 320.0% during the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock valued at $34,000 after acquiring an additional 800 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at $42,000. Finally, Financial Management Professionals Inc. grew its holdings in shares of Verizon Communications by 58.4% during the 4th quarter. Financial Management Professionals Inc. now owns 1,096 shares of the cell phone carrier’s stock valued at $41,000 after acquiring an additional 404 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $40.33, for a total transaction of $604,950.00. Following the sale, the chief executive officer now directly owns 59,201 shares of the company’s stock, valued at $2,387,576.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. UBS Group lifted their price objective on shares of Verizon Communications from $37.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Barclays lifted their price objective on shares of Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. KeyCorp lifted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, Wolfe Research raised shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research note on Thursday, January 4th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $44.14.

Read Our Latest Report on Verizon Communications

Verizon Communications Price Performance

NYSE VZ traded up $0.28 on Wednesday, reaching $42.82. The company’s stock had a trading volume of 1,552,727 shares, compared to its average volume of 19,916,760. The firm has a market cap of $180.03 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 3.43 and a beta of 0.41. The business has a 50-day moving average price of $40.74 and a 200 day moving average price of $37.60. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $43.21. 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:VZGet Free Report) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. The business had revenue of $35.10 billion for the quarter, compared to analysts’ expectations of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Sell-side analysts expect that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.66 annualized dividend and a yield of 6.21%. Verizon Communications’s dividend payout ratio is 96.38%.

Verizon Communications Profile

(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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