CHICAGO TRUST Co NA grew its position in shares of Verizon Communications (NYSE:VZ) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,739 shares of the cell phone carrier’s stock after purchasing an additional 2,157 shares during the period. CHICAGO TRUST Co NA’s holdings in Verizon Communications were worth $2,315,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new position in Verizon Communications in the second quarter valued at $607,000. E&G Advisors LP grew its holdings in shares of Verizon Communications by 18.2% during the third quarter. E&G Advisors LP now owns 24,735 shares of the cell phone carrier’s stock worth $1,224,000 after purchasing an additional 3,803 shares during the last quarter. KBC Group NV grew its holdings in shares of Verizon Communications by 55.2% during the second quarter. KBC Group NV now owns 719,656 shares of the cell phone carrier’s stock worth $32,140,000 after purchasing an additional 256,108 shares during the last quarter. Cutler Investment Counsel LLC grew its holdings in shares of Verizon Communications by 1.4% during the second quarter. Cutler Investment Counsel LLC now owns 154,181 shares of the cell phone carrier’s stock worth $6,886,000 after purchasing an additional 2,121 shares during the last quarter. Finally, Pax World Management LLC grew its holdings in shares of Verizon Communications by 10.9% during the second quarter. Pax World Management LLC now owns 31,663 shares of the cell phone carrier’s stock worth $1,414,000 after purchasing an additional 3,100 shares during the last quarter. Institutional investors own 64.00% of the company’s stock.
A number of equities analysts recently issued reports on the company. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price target on the stock. in a report on Tuesday. HSBC upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, March 28th. Guggenheim initiated coverage on shares of Verizon Communications in a research report on Tuesday, March 13th. They set a “buy” rating and a $58.00 price target for the company. Zacks Investment Research downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Finally, Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Verizon Communications has an average rating of “Hold” and an average price target of $54.24.
NYSE VZ opened at $47.48 on Friday. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.77. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $197,853.31, a price-to-earnings ratio of 12.70, a PEG ratio of 1.95 and a beta of 0.64.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The company had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. equities analysts expect that Verizon Communications will post 4.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.97%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio is presently 63.10%.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the completion of the sale, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at $799,738.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.
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About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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