Essential Planning LLC. Acquires 290,617 Shares of Verizon Communications Inc. (NYSE:VZ)

Essential Planning LLC. boosted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 6,415.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,147 shares of the cell phone carrier's stock after buying an additional 290,617 shares during the quarter. Essential Planning LLC.'s holdings in Verizon Communications were worth $12,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in Verizon Communications in the fourth quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in Verizon Communications in the third quarter worth $31,000. Legend Financial Advisors Inc. grew its position in shares of Verizon Communications by 69.6% in 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 in the last quarter. Compass Financial Services Inc purchased a new position in shares of Verizon Communications in the fourth quarter valued at $33,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Verizon Communications in the fourth quarter valued at $38,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Vandana Venkatesh sold 10,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the sale, the executive vice president now owns 14,459 shares of the company's stock, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kyle Malady sold 20,000 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the transaction, the chief executive officer now owns 45,675 shares in the company, valued at approximately $1,851,664.50. This represents a 30.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,085 shares of company stock valued at $2,020,895. Insiders own 0.02% of the company's stock.

Verizon Communications Trading Down 6.4 %

Shares of VZ stock opened at $43.51 on Wednesday. Verizon Communications Inc. has a 12-month low of $37.59 and a 12-month high of $47.36. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The business has a 50-day moving average price of $40.82 and a two-hundred day moving average price of $41.89. The firm has a market cap of $183.16 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41.

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Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period in the prior year, the business posted $1.08 earnings per share. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications's dividend payout ratio (DPR) is presently 65.46%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VZ shares. Deutsche Bank Aktiengesellschaft lifted their price target on Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research report on Friday, January 24th. UBS Group lifted their price target on Verizon Communications from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, December 20th. Tigress Financial reiterated a "buy" rating and issued a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. StockNews.com upgraded Verizon Communications from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, Scotiabank lifted their price objective on Verizon Communications from $47.50 to $48.00 and gave the company a "sector perform" rating in a research note on Monday, March 3rd. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Verizon Communications has an average rating of "Moderate Buy" and an average target price of $46.11.

Verizon Communications 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).

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