Verizon Communications Inc. (NYSE:VZ) Stock Position Lifted by Mission Wealth Management LP

Mission Wealth Management LP increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,531 shares of the cell phone carrier’s stock after acquiring an additional 406 shares during the period. Mission Wealth Management LP’s holdings in Verizon Communications were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VZ. LFA Lugano Financial Advisors SA lifted its stake 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 valued at $25,000 after acquiring an additional 565 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in Verizon Communications in the fourth quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in Verizon Communications in the fourth quarter worth approximately $29,000. Morton Brown Family Wealth LLC grew its position in Verizon Communications by 130.1% in the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after acquiring an additional 488 shares in the last quarter. Finally, Vima LLC bought a new stake in Verizon Communications in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of Verizon Communications stock traded up $0.15 during mid-day trading on Friday, reaching $41.27. 17,552,239 shares of the stock were exchanged, compared to its average volume of 15,519,950. The company has a market cap of $173.72 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 3.74 and a beta of 0.41. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The firm has a 50-day simple moving average of $40.27 and a 200 day simple moving average of $40.15. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.42.

Verizon Communications (NYSE:VZ) last announced its 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. The business had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Announces Dividend

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 issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Wall Street Analysts Forecast Growth

Several analysts have commented on VZ shares. Oppenheimer reissued an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Royal Bank of Canada upped their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.14.

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).