Brown Advisory Inc. Grows Stock Position in Verizon Communications Inc. (NYSE:VZ)

Brown Advisory Inc. grew its position in Verizon Communications Inc. (NYSE:VZGet Rating) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,614,317 shares of the cell phone carrier’s stock after acquiring an additional 27,564 shares during the quarter. Brown Advisory Inc.’s holdings in Verizon Communications were worth $83,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rinkey Investments acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $27,000. Lansing Street Advisors acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $35,000. Conrad Siegel Investment Advisors Inc. acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $36,000. Gibson Wealth Advisors LLC acquired a new stake in Verizon Communications during the fourth quarter worth $37,000. Finally, Morton Brown Family Wealth LLC increased its stake in Verizon Communications by 109.2% during the first quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock worth $37,000 after acquiring an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 63.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on VZ shares. Royal Bank of Canada cut their target price on Verizon Communications from $57.00 to $54.00 and set a “sector perform” rating for the company in a research note on Wednesday, June 22nd. Wells Fargo & Company cut their target price on Verizon Communications from $58.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. Cowen lowered their price target on Verizon Communications from $71.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, July 25th. StockNews.com lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Wolfe Research lowered their price target on Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.50.

Insider Activity at Verizon Communications

In related news, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $50.00, for a total value of $77,900.00. Following the transaction, the executive vice president now owns 36,519 shares in the company, valued at approximately $1,825,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,674 shares of company stock worth $237,377 in the last quarter. Company insiders own 0.10% of the company’s stock.

Verizon Communications Stock Up 1.2 %

VZ opened at $44.95 on Friday. The business’s 50-day simple moving average is $49.40 and its 200-day simple moving average is $51.01. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.69 and a current ratio of 0.76. Verizon Communications Inc. has a one year low of $43.76 and a one year high of $56.20. The stock has a market capitalization of $188.78 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 2.16 and a beta of 0.33.

Verizon Communications (NYSE:VZGet Rating) last posted its earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Verizon Communications had a return on equity of 26.95% and a net margin of 15.48%. The firm had revenue of $33.79 billion for the quarter, compared to analyst estimates of $33.77 billion. During the same quarter last year, the firm posted $1.37 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts anticipate that Verizon Communications Inc. will post 5.2 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 8th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Thursday, July 7th. Verizon Communications’s dividend payout ratio (DPR) is currently 51.30%.

Verizon Communications 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.

See Also

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

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