BCGM Wealth Management LLC Raises Holdings in Verizon Communications Inc. (NYSE:VZ)

BCGM Wealth Management LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,077 shares of the cell phone carrier’s stock after acquiring an additional 2,315 shares during the quarter. BCGM Wealth Management LLC’s holdings in Verizon Communications were worth $1,883,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of VZ. AMF Tjanstepension AB raised its position in shares of Verizon Communications by 58.0% in the third quarter. AMF Tjanstepension AB now owns 1,756,452 shares of the cell phone carrier’s stock worth $78,975,000 after acquiring an additional 644,761 shares during the period. Alpha Financial Partners LLC purchased a new position in shares of Verizon Communications in the 3rd quarter valued at about $224,000. Swedbank AB raised its holdings in Verizon Communications by 0.8% in the 3rd quarter. Swedbank AB now owns 5,174,541 shares of the cell phone carrier’s stock worth $232,389,000 after purchasing an additional 39,403 shares during the period. BKM Wealth Management LLC boosted its position in Verizon Communications by 69.8% during the third quarter. BKM Wealth Management LLC now owns 4,889 shares of the cell phone carrier’s stock worth $220,000 after purchasing an additional 2,009 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Verizon Communications by 21.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,050,742 shares of the cell phone carrier’s stock valued at $47,189,000 after purchasing an additional 188,307 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Verizon Communications stock opened at $42.77 on Monday. 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 50-day moving average price of $39.91 and a 200 day moving average price of $41.63. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $45.36. The stock has a market cap of $180.05 billion, a P/E ratio of 10.33, a PEG ratio of 4.45 and a beta of 0.45.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results 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 last year, the company posted $1.08 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 65.46%.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.88, for a total value of $319,040.00. Following the transaction, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. This represents a 54.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 39,085 shares of company stock worth $1,582,995. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VZ. Argus upgraded Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Royal Bank of Canada dropped their target price on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Wolfe Research upped their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Finally, Sanford C. Bernstein initiated coverage on Verizon Communications in a report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 target price for the company. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.08.

About Verizon Communications

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).