CFO4Life Group LLC Has $397,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

CFO4Life Group LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 3.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,455 shares of the cell phone carrier’s stock after buying an additional 313 shares during the period. CFO4Life Group LLC’s holdings in Verizon Communications were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mawer Investment Management Ltd. increased its holdings in Verizon Communications by 0.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,999,912 shares of the cell phone carrier’s stock worth $167,836,000 after purchasing an additional 19,454 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Verizon Communications by 4.7% during the 1st quarter. Advisory Services Network LLC now owns 298,620 shares of the cell phone carrier’s stock worth $12,530,000 after buying an additional 13,422 shares during the last quarter. Staley Capital Advisers Inc. boosted its stake in shares of Verizon Communications by 1.2% during the 1st quarter. Staley Capital Advisers Inc. now owns 217,814 shares of the cell phone carrier’s stock worth $9,139,000 after buying an additional 2,600 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of Verizon Communications by 39.7% during the 1st quarter. Manchester Capital Management LLC now owns 12,787 shares of the cell phone carrier’s stock worth $537,000 after buying an additional 3,631 shares during the last quarter. Finally, TFG Advisers LLC boosted its stake in shares of Verizon Communications by 7.0% during the 1st quarter. TFG Advisers LLC now owns 16,937 shares of the cell phone carrier’s stock worth $711,000 after buying an additional 1,109 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

VZ has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. Oppenheimer reiterated an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 target price for the company. Scotiabank raised their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.23.

Verizon Communications Price Performance

NYSE:VZ traded up $0.19 during mid-day trading on Friday, reaching $41.49. The stock had a trading volume of 6,418,585 shares, compared to its average volume of 18,638,787. The stock has a 50-day simple moving average of $40.42 and a two-hundred day simple moving average of $40.26. The stock has a market capitalization of $174.64 billion, a PE ratio of 15.45, a P/E/G ratio of 3.74 and a beta of 0.41. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $33 billion for 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 quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.665 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.41%. Verizon Communications’s dividend payout ratio is currently 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).