Alliance Wealth Management Group Acquires Stake in Verizon Communications Inc.

Alliance Wealth Management Group has purchased a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) during the fourth quarter, as reported in the company’s latest Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,696 shares of Verizon's stock, which is valued at around $228,000.

In addition to Alliance Wealth Management Group, other institutional investors and hedge funds have also been active in buying and selling shares of Verizon Communications. For instance, Vanguard Group Inc. raised its stake in Verizon's shares by 1.6% in the fourth quarter, now owning 363,824,525 shares worth $14,549,343,000 after acquiring an additional 5,697,337 shares last quarter. Similarly, Charles Schwab Investment Management Inc. increased its position in the company by 7.3%, now holding 108,694,230 shares valued at $4,346,682,000 after buying an additional 7,421,148 shares. Geode Capital Management LLC also slightly raised its stake in Verizon by 1.0%, now owning 96,823,092 shares worth $3,862,441,000 after purchasing an additional 998,847 shares. Other significant moves included Norges Bank buying shares worth approximately $2,300,846,000 and Raymond James Financial Inc. acquiring a stake valued at around $1,083,337,000. Overall, 62.06% of Verizon’s stock is owned by institutional investors.

Insider Trading Activity

In related news, on February 25th, Verizon's executive vice president, Vandana Venkatesh, sold 10,000 shares in a transaction averaging $43.79 per share, totaling $437,900. Post-sale, she holds 14,459 shares valued at $633,159.61, marking a 40.88% reduction in her position. This transaction was documented in an SEC filing. Additionally, on January 27th, CEO Kyle Malady sold 20,000 shares for an average of $40.54 each, equating to a total of $810,800. Following the sale, he retains 45,675 shares valued at $1,851,664.50, representing a reduction of 30.45%. Over the past quarter, insiders have sold 49,085 shares valued at $2,020,895. Currently, company insiders own 0.02% of Verizon's stock.

Analyst Ratings and Forecasts

Analysts on Wall Street have provided various insights regarding Verizon Communications. In a research note dated January 15th, TD Cowen upgraded Verizon shares to a "strong-buy" rating. Conversely, Wolfe Research downgraded the stock from "outperform" to "peer perform" on March 12th. Scotiabank raised its price target from $47.50 to $48.00, maintaining a "sector perform" rating for the stock as of March 3rd. Royal Bank of Canada also reiterated a "sector perform" rating, increasing its price target to $45.00 from $42.00 in a report on March 25th. Furthermore, Argus upgraded Verizon to a "strong-buy" rating on January 27th. Overall, ten investment analysts have issued a hold rating for the stock, while seven have given it a buy rating, and two have assigned it a strong buy rating, resulting in a consensus rating of "Moderate Buy" and an average price target of $46.71 according to MarketBeat data.

Current Stock Performance

As of Tuesday, shares of Verizon (NYSE:VZ) opened at $45.40. The company boasts a market capitalization of $191.10 billion, with a price-to-earnings ratio of 10.97, a PEG ratio of 4.45, and a beta of 0.41. In the past twelve months, Verizon's stock has had a low of $37.59 and a high of $47.36, while currently holding a 50-day moving average price of $42.24 and a 200-day moving average of $42.08.

In its most recent quarterly earnings data released on January 24th, Verizon reported earnings per share (EPS) of $1.10, slightly missing the consensus estimate of $1.11 by $0.01. The company had a net margin of 12.99% and a return on equity of 19.80%. For the current fiscal year, analysts predict that Verizon Communications will report an EPS of 4.69.

Dividend Announcement

Recently, Verizon announced its quarterly dividend, which is scheduled to be paid on May 1st. Shareholders on record by April 10th will receive a dividend of $0.6775 per share, translating to an annualized dividend of $2.71 with a yield of 5.97%. The ex-dividend date is also April 10th, and Verizon's dividend payout ratio stands at 65.46%.

About Verizon Communications

Verizon Communications Inc., through its subsidiaries, provides a range of communication, technology, information, and entertainment products and services worldwide to consumers, businesses, and governmental entities. It operates under two segments: Verizon Consumer Group and Verizon Business Group.

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This report provides a concise overview of the latest activities concerning Verizon Communications, including institutional investment actions, insider trades, and stock analyst opinions. It serves as a valuable resource for investors seeking insights into Verizon's market performance and operational developments.

Alliance, Investment, Verizon