Iron Horse Wealth Management LLC Has $69,000 Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Iron Horse Wealth Management LLC lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 15.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,655 shares of the cell phone carrier’s stock after selling 302 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Verizon Communications were worth $69,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VZ. Pacifica Partners Inc. lifted its holdings in shares of Verizon Communications by 4.6% during the 4th quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after buying an additional 255 shares during the period. Private Portfolio Partners LLC boosted its position in Verizon Communications by 0.9% in the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after purchasing an additional 255 shares during the last quarter. Selective Wealth Management Inc. grew its stake in shares of Verizon Communications by 2.8% during the 4th quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after purchasing an additional 257 shares during the period. Horizon Bancorp Inc. IN increased its position in shares of Verizon Communications by 24.9% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 258 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in shares of Verizon Communications by 2.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after purchasing an additional 260 shares during the period. 62.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VZ. Royal Bank of Canada lifted their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 2nd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Wells Fargo & Company lowered their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.77.

Verizon Communications Price Performance

Shares of VZ stock traded up $0.42 during trading hours on Friday, hitting $41.24. The stock had a trading volume of 27,639,192 shares, compared to its average volume of 16,795,164. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. The stock has a market capitalization of $173.59 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 3.75 and a beta of 0.42. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The stock’s 50-day moving average price is $40.07 and its two-hundred day moving average price is $40.04.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. During the same period last year, the firm posted $1.20 earnings per share. Verizon Communications’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post 4.59 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.665 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.45%. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Verizon Communications Company 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).