LJI Wealth Management LLC Has $421,000 Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

LJI Wealth Management LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 15.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 9,284 shares of the cell phone carrier’s stock after buying an additional 1,258 shares during the period. LJI Wealth Management LLC’s holdings in Verizon Communications were worth $421,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. raised its position in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC grew its stake in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. bought a new stake in Verizon Communications in the first quarter valued at about $26,000. Mattson Financial Services LLC increased its holdings in Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. Finally, Graney & King LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $32,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Down 1.0%

VZ stock opened at $41.63 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.61 and a quick ratio of 0.58. The stock has a market capitalization of $175.52 billion, a P/E ratio of 9.91, a P/E/G ratio of 3.34 and a beta of 0.37. Verizon Communications Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $47.36. The business has a 50-day moving average of $43.14 and a 200-day moving average of $42.39.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. The firm had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Thursday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 64.52%.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of Verizon Communications stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total value of $396,900.00. Following the sale, the chief executive officer directly owned 10,008 shares in the company, valued at approximately $441,352.80. The trade was a 47.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VZ shares. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Oppenheimer lifted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Morgan Stanley initiated coverage on shares of Verizon Communications in a research note on Thursday. They issued an “equal weight” rating and a $47.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Bank of America began coverage on shares of Verizon Communications in a report on Monday, July 7th. They issued a “neutral” rating and a $45.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

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).