Cwm LLC Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)



Cwm LLC increased its stake in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 4.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 723,461 shares of the cell phone carrier’s stock after buying an additional 32,301 during the period. Cwm LLC’s holdings in Verizon Communications was worth $36,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC boosted its stake in Verizon Communications by 4.9% during the 4th quarter. Sound Income Strategies LLC now owns 6,587 shares of the cell phone carrier’s stock valued at $342,000 after purchasing an additional 310 shares during the last quarter. Canandaigua National Corp boosted its stake in Verizon Communications by 1.6% during the 4th quarter. Canandaigua National Corp now owns 114,408 shares of the cell phone carrier’s stock valued at $5,945,000 after purchasing an additional 1,786 shares during the last quarter. E&G Advisors LP boosted its stake in Verizon Communications by 1.0% during the 4th quarter. E&G Advisors LP now owns 19,903 shares of the cell phone carrier’s stock valued at $1,034,000 after purchasing an additional 200 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Verizon Communications by 95.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,896 shares of the cell phone carrier’s stock valued at $410,000 after purchasing an additional 3,861 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in Verizon Communications by 3.1% during the 4th quarter. Koshinski Asset Management Inc. Now owns 118,181 shares of the cell phone carrier’s stock valued at $6,141,000 after purchasing an additional 3,605 shares during the last quarter. Institutional investors own 63.78% of the company’s stock.

Several brokerages have commented on VZ. Wolfe Research cut their target price on Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating on the stock in a research note on Thursday, June 2nd. DZ Bank downgraded Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research note on Friday, April 29th. The Goldman Sachs Group downgraded Verizon Communications from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $61.00 to $55.00 in a research note on Monday, April 25th. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Finally, JPMorgan Chase & Co. restated a “hold” rating and issued a $57.00 price target on shares of Verizon Communications in a research note on Friday, June 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.14.

Shares of Verizon Communications stock opened at $51.64 on Tuesday. Verizon Communications Inc. has a one year low of $45.55 and a one year high of $56.85. The stock’s fifty day moving average is $49.78 and its 200 day moving average is $51.84. The stock has a market cap of $216.87 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.66 and a beta of 0.40. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.69 and a current ratio of 0.76.

Verizon Communications (NYSE:VZ – Get Rating) last announced its earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 EPS for the quarter, hitting analysts’ consensus estimates of $1.35. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The company had revenue of $33.61 billion for the quarter, compared to analysts’ expectations of $33.61 billion. During the same period last year, the firm earned $1.31 EPS. Verizon Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts predict that Verizon Communications Inc. will post 5.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 8th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $2.56 dividend on an annualized basis and a yield of 4.96%. Verizon Communications’s dividend payout ratio is presently 49.71%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $50.94, for a total transaction of $79,364.52. Following the sale, the executive vice president now directly owns 34,961 shares of the company’s stock, valued at $1,780,913.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tami A. Erwin sold 23,647 shares of the firm’s stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total value of $1,176,911.19. Following the sale, the chief executive officer now directly owns 21,817 shares in the company, valued at $1,085,832.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,763 shares of company stock worth $1,334,176. Insiders own 0.02% of the company’s stock.

Verizon Communications Company Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)



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