ERTS Wealth Advisors LLC Buys 1,964 Shares of Verizon Communications Inc. (NYSE:VZ)

ERTS Wealth Advisors LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 16.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,944 shares of the cell phone carrier’s stock after purchasing an additional 1,964 shares during the quarter. ERTS Wealth Advisors LLC’s holdings in Verizon Communications were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ausdal Financial Partners Inc. raised its stake in shares of Verizon Communications by 1.1% in the second quarter. Ausdal Financial Partners Inc. now owns 17,615 shares of the cell phone carrier’s stock valued at $998,000 after buying an additional 185 shares during the period. Clearwater Capital Advisors LLC raised its stake in shares of Verizon Communications by 4.7% in the second quarter. Clearwater Capital Advisors LLC now owns 4,170 shares of the cell phone carrier’s stock valued at $238,000 after buying an additional 187 shares during the period. Capital Asset Advisory Services LLC raised its stake in shares of Verizon Communications by 3.4% in the second quarter. Capital Asset Advisory Services LLC now owns 6,121 shares of the cell phone carrier’s stock valued at $350,000 after buying an additional 200 shares during the period. Waller Financial Planning Group Inc. raised its stake in shares of Verizon Communications by 2.7% in the second quarter. Waller Financial Planning Group Inc. now owns 7,587 shares of the cell phone carrier’s stock valued at $432,000 after buying an additional 200 shares during the period. Finally, Ballew Advisors Inc raised its stake in shares of Verizon Communications by 5.7% in the second quarter. Ballew Advisors Inc now owns 3,730 shares of the cell phone carrier’s stock valued at $215,000 after buying an additional 200 shares during the period. Institutional investors own 65.92% of the company’s stock.

In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $58.15, for a total transaction of $78,444.35. Following the completion of the transaction, the executive vice president now directly owns 25,379 shares in the company, valued at $1,475,788.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tami A. Erwin sold 17,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $57.75, for a total value of $981,750.00. Following the transaction, the chief executive officer now owns 853 shares of the company’s stock, valued at $49,260.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,047 shares of company stock valued at $1,212,038. 0.03% of the stock is owned by company insiders.

Shares of NYSE VZ traded down $0.41 during mid-day trading on Friday, hitting $60.02. The company had a trading volume of 1,570,308 shares, compared to its average volume of 10,750,177. The company has a market capitalization of $249.36 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 2.86 and a beta of 0.52. Verizon Communications Inc. has a 1 year low of $52.28 and a 1 year high of $61.58. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. The stock’s 50-day moving average price is $56.86 and its 200-day moving average price is $57.44.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The company had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.615 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.60. This represents a $2.46 annualized dividend and a dividend yield of 4.10%. Verizon Communications’s payout ratio is 51.17%.

Several brokerages have issued reports on VZ. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Monday, September 2nd. UBS Group lowered Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price on the stock. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Oppenheimer upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research note on Tuesday, August 27th. Finally, Citigroup set a $62.00 target price on Verizon Communications and gave the company a “hold” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $60.96.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

See Also: Trade Deficit

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).

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.