Twin Capital Management Inc. grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 288,055 shares of the cell phone carrier’s stock after acquiring an additional 21,800 shares during the quarter. Twin Capital Management Inc.’s holdings in Verizon Communications were worth $14,256,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Legacy Advisors LLC bought a new stake in Verizon Communications in the 3rd quarter worth about $132,000. Shine Investment Advisory Services Inc. increased its holdings in Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after buying an additional 1,775 shares in the last quarter. Private Vista LLC increased its holdings in Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Verizon Communications in the 2nd quarter worth about $156,000. Finally, Regal Wealth Group Inc. grew its stake in shares of Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 63.31% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) opened at $50.08 on Wednesday. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.77. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $204,300.00, a PE ratio of 15.36, a PEG ratio of 2.04 and a beta of 0.58.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The company had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. sell-side analysts predict that Verizon Communications Inc. will post 4.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a $0.59 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.71%. Verizon Communications’s dividend payout ratio is presently 72.39%.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.
A number of research firms have issued reports on VZ. KeyCorp boosted their price target on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. Macquarie restated a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a research note on Wednesday, January 24th. SunTrust Banks boosted their price target on Verizon Communications to $58.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Bank of America boosted their price target on Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their price target on Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. Verizon Communications has an average rating of “Hold” and an average target price of $53.51.
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Verizon Communications Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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