Cohen Investment Advisors LLC Acquires 2,031 Shares of Verizon Communications Inc. (NYSE:VZ)

Cohen Investment Advisors LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 54,334 shares of the cell phone carrier’s stock after purchasing an additional 2,031 shares during the period. Cohen Investment Advisors LLC’s holdings in Verizon Communications were worth $2,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LFA Lugano Financial Advisors SA boosted its position in Verizon Communications by 627.8% in the fourth 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 during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Verizon Communications during the 4th quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth about $29,000. Morton Brown Family Wealth LLC grew its position in Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after buying an additional 488 shares during the period. Finally, Vima LLC purchased a new stake in Verizon Communications during the fourth quarter worth about $36,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

NYSE:VZ traded up $0.02 during mid-day trading on Thursday, reaching $41.12. The stock had a trading volume of 6,653,911 shares, compared to its average volume of 16,298,411. The stock has a market capitalization of $173.08 billion, a P/E ratio of 15.34, a P/E/G ratio of 3.73 and a beta of 0.41. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The firm has a 50 day moving average price of $40.20 and a two-hundred day moving average price of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. During the same quarter last year, the firm earned $1.20 EPS. The company’s revenue was up .3% on a year-over-year basis. As a group, analysts expect that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.47%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VZ. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Monday. They issued a “buy” rating and a $50.00 price target on the stock. Wells Fargo & Company dropped their target price 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. Royal Bank of Canada lifted their price target on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 2nd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Finally, Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and upped their price target for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.14.

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).