CFM Wealth Partners LLC Grows Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

by · The Cerbat Gem

CFM Wealth Partners LLC lifted its position in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 3.6% in the first quarter, HoldingsChannel.com reports. The firm owned 16,856 shares of the cell phone carrier’s stock after purchasing an additional 587 shares during the period. CFM Wealth Partners LLC’s holdings in Verizon Communications were worth $765,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VZ. Crescent Sterling Ltd. grew its position in shares of Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier’s stock worth $1,402,000 after buying an additional 235 shares during the last quarter. Bernard Wealth Management Corp. lifted its stake in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after acquiring an additional 243 shares during the period. Cherry Tree Wealth Management LLC boosted its holdings in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 244 shares in the last quarter. NCM Capital Management LLC increased its position in Verizon Communications by 1.4% during the 4th quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier’s stock valued at $735,000 after purchasing an additional 245 shares during the period. Finally, CRA Financial Services LLC raised its holdings in Verizon Communications by 3.7% in the 1st quarter. CRA Financial Services LLC now owns 6,913 shares of the cell phone carrier’s stock worth $314,000 after purchasing an additional 246 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Price Performance

VZ opened at $42.32 on Friday. The firm has a market cap of $178.41 billion, a PE ratio of 10.08, a P/E/G ratio of 3.14 and a beta of 0.38. The stock has a 50-day moving average price of $43.15 and a 200-day moving average price of $42.21. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.61 and a quick ratio of 0.58.

Verizon Communications (NYSE:VZ – Get Free Report) last issued its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $33.50 billion during the quarter, compared to analysts’ expectations of $33.31 billion. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.6775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.40%. Verizon Communications’s payout ratio is currently 64.52%.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total value of $329,100.00. Following the completion of the transaction, the chief executive officer now owns 19,008 shares in the company, valued at $834,071.04. The trade was a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research reports. Oppenheimer lifted their target price on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Wall Street Zen downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Evercore ISI raised Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Friday, April 11th. Tigress Financial raised their target price on Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Finally, Wolfe Research cut Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. Nine research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.41.

Check Out Our Latest Analysis on VZ

Verizon Communications Profile

(Free Report)

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).

Featured Articles

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ – Free Report).