Global Wealth Management Investment Advisory Inc. Makes New $4.33 Million Investment in Verizon Communications Inc. (NYSE:VZ)

Global Wealth Management Investment Advisory Inc. purchased a new position in Verizon Communications Inc. (NYSE:VZ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 108,358 shares of the cell phone carrier’s stock, valued at approximately $4,333,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Verizon Communications in the 3rd quarter worth $31,000. Accordant Advisory Group Inc grew its position in shares of Verizon Communications by 137.6% during the third 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 in the last quarter. Legend Financial Advisors Inc. raised its stake in Verizon Communications by 69.6% during 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 period. Compass Financial Services Inc purchased a new position in Verizon Communications in the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC bought a new position in Verizon Communications in the 4th quarter worth approximately $38,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

Shares of VZ stock opened at $39.88 on Monday. The firm has a market capitalization of $167.86 billion, a P/E ratio of 9.63, a P/E/G ratio of 4.17 and a beta of 0.45. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $45.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The stock has a 50 day moving average price of $40.18 and a 200 day moving average price of $41.55.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the company earned $1.08 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date was Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is 65.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VZ shares. Scotiabank lifted their price objective on shares of Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target on the stock. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada cut their price target on Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the completion of the sale, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at approximately $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 39,085 shares of company stock worth $1,582,995 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Verizon Communications Company 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).