Shares of Verizon Communications Inc. (NYSE:VZ) purchased by Kessler Investment Group LLC


Kessler Investment Group LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ – Get Rating ) by 16.3% during the first quarter, HoldingsChannel reports. The fund owned 23,224 shares of the mobile carrier’s stock after acquiring an additional 3,251 shares during the period. Kessler Investment Group LLC’s holdings in Verizon Communications were worth $1,183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Rinkey Investments purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $27,000. Econ Financial Services Corp purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $32,000. Gibson Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $37,000. Morton Brown Family Wealth LLC raised its stake in shares of Verizon Communications by 109.2% in the 1st quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock valued at $37,000 after purchasing an additional 379 shares during the period. Finally, Rather & Kittrell Inc. purchased a new stake in shares of Verizon Communications in the 4th quarter valued at $43,000. The institutional investor owns 63.78% of the company’s stock.

VZ has been the subject of several research reports. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a research report on Monday, April 25th. DZ Bank lowered shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price for the company. in a research report on Friday, April 29th. Credit Suisse Group reduced their price objective on shares of Verizon Communications from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. Finally, Royal Bank of Canada reduced their price objective on shares of Verizon Communications from $57.00 to $54.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.14, according to MarketBeat.com.

In other news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $50.94, for a total value of $79,364.52. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,780,913.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC’s website. Also, CEO Tammy A. Ervin sold 23,647 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the completion of the sale, the chief executive officer now owns 21,817 shares in the company, valued at approximately $1,085,832.09. Disclosure of this sale can be found here. Over the last 90 days, insiders have sold 26,763 shares of company stock worth $1,334,176. Company insiders own 0.10% of the company’s shares.

NYSE:VZ opened at $51.64 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76, and a quick ratio of 0.69. The firm has a 50 day moving average of $49.75 and a 200 day moving average of $51.86. The stock has a market cap of $216.87 billion, a P/E ratio of 10.03, a PEG ratio of 2.66 and a beta of 0.40. Verizon Communications Inc. has a 1-year low of $45.55 and a 1-year high of $56.85.

Verizon Communications (NYSE:VZ – Get Rating ) last issued its earnings results on Friday, April 22nd. The mobile phone carrier reported $1.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.35. The business had revenue of $33.60 billion for the quarter, compared to analyst estimates of $33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. In the same quarter last year, the business reported $1.31 EPS. As a group, stock analysts expect Verizon Communications Inc. to report 5.39 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 8th will be given a $0.64 dividend. The ex-dividend date is Thursday, July 7th. This represents an annualized dividend of $2.56 and a dividend yield of 4.96%. Verizon Communications’ dividend payout ratio (DPR) is currently 49.71%.

Verizon Communications Company Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, provides communications, technology, information and entertainment products and services to consumers, businesses and government organizations worldwide. Its consumer segment offers subscription and prepaid service plans; access to the Internet on laptops and tablets; wireless equipment, including smartphones and other telephones; and wirelessly enabled Internet devices, such as tablets and other wirelessly enabled connected devices, including smartwatches.

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



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