Foundations Investment Advisors LLC Buys 32,791 Shares of Verizon Communications Inc. $VZ

Foundations Investment Advisors LLC lifted its stake in Verizon Communications Inc. (NYSE:VZ) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 320,820 shares of the cell phone carrier’s stock after acquiring an additional 32,791 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Verizon Communications were worth $14,100,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AE Wealth Management LLC grew its stake in shares of Verizon Communications by 11.9% in the third quarter. AE Wealth Management LLC now owns 1,185,741 shares of the cell phone carrier’s stock valued at $52,113,000 after buying an additional 125,645 shares in the last quarter. LRI Investments LLC lifted its stake in Verizon Communications by 3.9% in the third quarter. LRI Investments LLC now owns 20,151 shares of the cell phone carrier’s stock valued at $886,000 after acquiring an additional 753 shares during the last quarter. Activest Wealth Management lifted its stake in Verizon Communications by 27.1% in the third quarter. Activest Wealth Management now owns 6,418 shares of the cell phone carrier’s stock valued at $282,000 after acquiring an additional 1,370 shares during the last quarter. Great Lakes Advisors LLC grew its position in shares of Verizon Communications by 3.0% in the 3rd quarter. Great Lakes Advisors LLC now owns 970,008 shares of the cell phone carrier’s stock valued at $42,632,000 after acquiring an additional 27,896 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Verizon Communications by 11.7% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 12,192 shares of the cell phone carrier’s stock worth $536,000 after purchasing an additional 1,279 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

NYSE:VZ opened at $39.42 on Thursday. The stock has a 50 day simple moving average of $40.27 and a 200 day simple moving average of $41.57. The stock has a market cap of $166.19 billion, a P/E ratio of 8.42, a PEG ratio of 3.75 and a beta of 0.34. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $47.35. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.02. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The firm had revenue of $33.82 billion for the quarter, compared to analysts’ expectations of $34.19 billion. During the same quarter last year, the business earned $1.19 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $2.76 dividend on an annualized basis and a yield of 7.0%. Verizon Communications’s payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VZ. Barclays began coverage on shares of Verizon Communications in a research note on Thursday, January 22nd. They issued an “equal weight” rating and a $43.00 target price for the company. TD Cowen cut their price objective on Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Royal Bank Of Canada decreased their target price on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Verizon Communications in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Verizon Communications from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and a consensus target price of $47.43.

Verizon Communications Company Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.