Yelin Lapidot Holdings Management Ltd. Has $457,000 Position in Verizon Communications Inc. (NYSE:VZ)

by · The Markets Daily

Yelin Lapidot Holdings Management Ltd. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,073 shares of the cell phone carrier’s stock after buying an additional 941 shares during the period. Yelin Lapidot Holdings Management Ltd.’s holdings in Verizon Communications were worth $457,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. raised its position in shares of Verizon Communications by 81.0% in the 1st 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 in the last quarter. Cherry Tree Wealth Management LLC grew its stake in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. bought a new stake in Verizon Communications in the first quarter worth approximately $26,000. Mainstream Capital Management LLC bought a new position in shares of Verizon Communications during the 4th quarter worth approximately $28,000. Finally, Mattson Financial Services LLC boosted its holdings in shares of Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 415 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Up 0.5%

Shares of NYSE:VZ traded up $0.23 during mid-day trading on Wednesday, hitting $43.91. 3,456,918 shares of the company traded hands, compared to its average volume of 22,241,516. The stock has a 50-day moving average price of $43.16 and a two-hundred day moving average price of $42.23. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The stock has a market cap of $185.12 billion, a P/E ratio of 10.45, a P/E/G ratio of 3.21 and a beta of 0.38. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently declared 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. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date is Thursday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 64.52%.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the sale, the chief executive officer owned 10,008 shares in the company, valued at approximately $441,352.80. This trade represents a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a research note on Tuesday, March 25th. Tigress Financial lifted their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Scotiabank increased their price objective on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 23rd. Oppenheimer boosted their target price on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Finally, Wolfe Research lowered Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average target price of $47.25.

Get Our Latest Stock 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).

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