Schwab Charles Investment Management Inc. raised its stake in shares of Verizon Communications (NYSE:VZ) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,390,896 shares of the cell phone carrier’s stock after purchasing an additional 1,250,691 shares during the period. Verizon Communications accounts for 0.9% of Schwab Charles Investment Management Inc.’s holdings, making the stock its 14th biggest position. Schwab Charles Investment Management Inc. owned about 0.52% of Verizon Communications worth $1,132,221,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Advisors LLC purchased a new position in shares of Verizon Communications in the third quarter worth about $132,000. Shine Investment Advisory Services Inc. lifted its stake in shares of Verizon Communications by 190.9% in the third 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 lifted its stake in shares of Verizon Communications by 3,339.1% in the second 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 purchased a new position in shares of Verizon Communications in the second quarter worth about $156,000. Finally, Regal Wealth Group Inc. lifted its stake in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after buying an additional 24 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of VZ traded down $0.76 during trading on Friday, reaching $47.48. 16,064,191 shares of the company traded hands, compared to its average volume of 13,778,864. Verizon Communications has a twelve month low of $42.80 and a twelve month high of $54.77. The stock has a market cap of $199,132.98, a PE ratio of 12.70, a P/E/G ratio of 1.96 and a beta of 0.64. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87.
Verizon Communications (NYSE:VZ) last announced 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). 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 analyst estimates of $33.20 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. Verizon Communications’s revenue was up 2.2% on a year-over-year basis. sell-side analysts expect that Verizon Communications will post 4.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 63.10%.
Several equities analysts have recently weighed in on the stock. Vetr downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price target on the stock. in a research note on Tuesday. Guggenheim began coverage on shares of Verizon Communications in a research note on Tuesday, March 13th. They set a “buy” rating and a $58.00 target price on the stock. SunTrust Banks lifted their target price on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Macquarie reaffirmed a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a research note on Wednesday, January 24th. Finally, Zacks Investment Research downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $54.24.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the transaction, the senior vice president now owns 16,059 shares in the company, valued at $799,738.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.
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Verizon Communications Profile
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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