Coastline Trust Co trimmed its position in Verizon Communications (NYSE:VZ) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,292 shares of the cell phone carrier’s stock after selling 7,360 shares during the period. Coastline Trust Co’s holdings in Verizon Communications were worth $3,138,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Spirit of America Management Corp NY increased its position in Verizon Communications by 4.5% during the 4th quarter. Spirit of America Management Corp NY now owns 34,675 shares of the cell phone carrier’s stock worth $1,836,000 after purchasing an additional 1,485 shares in the last quarter. Koshinski Asset Management Inc. increased its position in Verizon Communications by 10.4% during the 4th quarter. Koshinski Asset Management Inc. now owns 57,279 shares of the cell phone carrier’s stock worth $3,032,000 after purchasing an additional 5,414 shares in the last quarter. Sky Investment Group LLC increased its position in Verizon Communications by 1.9% during the 4th quarter. Sky Investment Group LLC now owns 63,291 shares of the cell phone carrier’s stock worth $3,350,000 after purchasing an additional 1,201 shares in the last quarter. First National Trust Co increased its position in Verizon Communications by 6.0% during the 4th quarter. First National Trust Co now owns 200,999 shares of the cell phone carrier’s stock worth $10,639,000 after purchasing an additional 11,401 shares in the last quarter. Finally, Creative Planning increased its position in Verizon Communications by 4.3% during the 4th quarter. Creative Planning now owns 527,509 shares of the cell phone carrier’s stock worth $27,921,000 after purchasing an additional 21,970 shares in the last quarter. Institutional investors own 64.00% of the company’s stock.
Several brokerages have issued reports on VZ. Vetr downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price objective for the company. in a research report on Tuesday. HSBC raised 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 started coverage on shares of Verizon Communications in a research report on Tuesday, March 13th. They issued a “buy” rating and a $58.00 price objective for the company. Zacks Investment Research cut Verizon Communications from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Finally, Moffett Nathanson upgraded 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.24.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the transaction, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at $799,738.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.
Shares of VZ traded down $0.76 during trading hours on Friday, reaching $47.48. 16,064,191 shares of the company’s stock traded hands, compared to its average volume of 13,778,864. The firm has a market capitalization of $199,132.98, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.96 and a beta of 0.64. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. Verizon Communications has a twelve month low of $42.80 and a twelve month high of $54.77.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The business had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. Verizon Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. analysts forecast that Verizon Communications will post 4.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.59 per share. 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 63.10%.
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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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