Bedell Frazier Investment Counselling LLC Acquires 3,532 Shares of Verizon Communications Inc. (NYSE:VZ)

Bedell Frazier Investment Counselling LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,751 shares of the cell phone carrier’s stock after purchasing an additional 3,532 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Verizon Communications were worth $4,349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. raised its stake in shares of 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 acquiring an additional 320 shares during the last quarter. Graney & King LLC bought a new position in Verizon Communications during the 4th quarter valued at approximately $32,000. Compass Financial Services Inc bought a new stake in shares of Verizon Communications in the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Verizon Communications during the fourth quarter valued at approximately $38,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $44.96 on Monday. 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 firm’s 50-day moving average price is $42.11 and its 200-day moving average price is $42.07. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $47.36. The company has a market cap of $189.25 billion, a PE ratio of 10.86, a PEG ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company posted $1.08 earnings per share. As a group, analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.03%. Verizon Communications’s payout ratio is 65.46%.

Insider Buying and Selling at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kyle Malady sold 11,085 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at $596,439.20. This represents a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock worth $2,020,895 in the last three months. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VZ shares. StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 13th. Argus raised shares of Verizon Communications to a “strong-buy” rating in a research report on Monday, January 27th. Wolfe Research lowered shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, March 12th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Tigress Financial reissued a “buy” rating and issued a $55.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.71.

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).