Tempus Wealth Planning LLC Grows Stock Position in Verizon Communications Inc. (NYSE:VZ)

Tempus Wealth Planning LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,546 shares of the cell phone carrier’s stock after purchasing an additional 1,519 shares during the quarter. Tempus Wealth Planning LLC’s holdings in Verizon Communications were worth $1,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in VZ. Capital Performance Advisors LLP purchased a new position in Verizon Communications during the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. raised its position in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the last quarter. Accordant Advisory Group Inc boosted its stake in Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 450 shares during the period. Cedar Mountain Advisors LLC grew its position in Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after purchasing an additional 839 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Verizon Communications in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 1.5 %

NYSE:VZ opened at $40.00 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a market cap of $168.36 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 4.11 and a beta of 0.45. The stock has a fifty day simple moving average of $40.61 and a 200-day simple moving average of $41.57. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $45.36.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the company posted $1.08 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.6775 per share. The ex-dividend date was Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.78%. Verizon Communications’s dividend payout ratio is currently 65.46%.

Analyst Ratings Changes

VZ has been the subject of a number of research reports. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Argus raised Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank boosted their price target on shares of Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a report on Monday, January 27th. UBS Group boosted their price target on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada lowered their price objective on shares of Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average price target of $46.08.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 11,085 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the sale, the chief executive officer now owns 14,590 shares of the company’s stock, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.03% of the company’s stock.

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).