Strategic Blueprint LLC Acquires 2,999 Shares of Verizon Communications Inc. (NYSE:VZ)

Strategic Blueprint LLC lifted its position in Verizon Communications Inc. (NYSE:VZ) by 8.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,748 shares of the cell phone carrier’s stock after acquiring an additional 2,999 shares during the period. Strategic Blueprint LLC’s holdings in Verizon Communications were worth $1,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in Verizon Communications during the third quarter valued at $31,000. Accordant Advisory Group Inc lifted its position in Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares during the last quarter. Legend Financial Advisors Inc. lifted its position in Verizon Communications by 69.6% during the fourth 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 last quarter. Cedar Mountain Advisors LLC lifted its position in Verizon Communications by 655.5% during the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after purchasing an additional 839 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Verizon Communications during the third quarter valued at $44,000. Institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on VZ. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price objective for the company. StockNews.com lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Wolfe Research raised their target price on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Finally, TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Verizon Communications Stock Down 0.4 %

VZ stock opened at $40.25 on Thursday. The firm has a 50 day moving average of $40.79 and a 200 day moving average of $41.61. The stock has a market capitalization of $169.43 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $45.36.

Verizon Communications (NYSE:VZ) last announced 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 net margin of 7.30% and a return on equity of 20.05%. During the same quarter last year, the firm earned $1.08 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.73%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 116.81%.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the completion of the sale, the chief executive officer now owns 45,675 shares of the company’s stock, valued at approximately $1,851,664.50. The trade was a 30.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.02% of the company’s stock.

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).