Orion Portfolio Solutions LLC Grows Stock Position in Verizon Communications Inc. (NYSE:VZ)

Orion Portfolio Solutions LLC lifted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,397 shares of the cell phone carrier's stock after purchasing an additional 10,873 shares during the period. Orion Portfolio Solutions LLC's holdings in Verizon Communications were worth $7,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Sector Pension Investment Board boosted its holdings in shares of Verizon Communications by 12.9% in the third quarter. Public Sector Pension Investment Board now owns 183,305 shares of the cell phone carrier's stock valued at $8,232,000 after acquiring an additional 20,900 shares during the period. Fred Alger Management LLC grew its position in Verizon Communications by 2.9% during the 3rd quarter. Fred Alger Management LLC now owns 124,094 shares of the cell phone carrier's stock worth $5,573,000 after purchasing an additional 3,520 shares during the last quarter. White Knight Strategic Wealth Advisors LLC increased its stake in Verizon Communications by 173.9% in the third quarter. White Knight Strategic Wealth Advisors LLC now owns 18,097 shares of the cell phone carrier's stock valued at $813,000 after purchasing an additional 11,491 shares during the period. Kolinsky Wealth Management LLC raised its holdings in shares of Verizon Communications by 8.5% in the third quarter. Kolinsky Wealth Management LLC now owns 11,294 shares of the cell phone carrier's stock valued at $507,000 after buying an additional 885 shares during the last quarter. Finally, Encompass More Asset Management acquired a new stake in shares of Verizon Communications during the third quarter worth about $251,000. Institutional investors and hedge funds own 62.06% of the company's stock.

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Verizon Communications Price Performance

VZ traded up $0.47 during midday trading on Monday, reaching $45.40. 27,775,225 shares of the company's stock were exchanged, compared to its average volume of 19,542,657. The business's 50-day moving average price is $42.11 and its 200 day moving average price is $42.07. The stock has a market capitalization of $191.10 billion, a PE ratio of 10.97, a P/E/G ratio of 4.45 and a beta of 0.41. 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 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (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 last year, the company earned $1.08 EPS. As a group, equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Thursday, April 10th. Verizon Communications's dividend payout ratio is presently 65.46%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several recent research reports. Tigress Financial restated a "buy" rating and issued a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Sanford C. Bernstein began coverage on Verizon Communications in a research note on Tuesday, December 10th. They set a "market perform" rating and a $48.00 price target for the company. TD Cowen raised Verizon Communications to a "strong-buy" rating in a report on Wednesday, January 15th. Scotiabank upped their price objective on shares of Verizon Communications from $47.50 to $48.00 and gave the stock a "sector perform" rating in a research report on Monday, March 3rd. Finally, Wolfe Research downgraded shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a report on Wednesday, March 12th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

Insider Activity at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now directly owns 14,459 shares of the company's stock, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kyle Malady sold 8,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the sale, the chief executive officer now owns 6,590 shares of the company's stock, valued at $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. 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. 0.02% of the stock is owned by insiders.

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).