Community Bank & Trust Waco Texas cut its position in shares of Verizon Communications (NYSE:VZ) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,653 shares of the cell phone carrier’s stock after selling 1,512 shares during the quarter. Verizon Communications accounts for about 1.8% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 14th biggest holding. Community Bank & Trust Waco Texas’ holdings in Verizon Communications were worth $4,004,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of VZ. Legacy Advisors LLC bought a new position in Verizon Communications in the third quarter valued at approximately $132,000. Shine Investment Advisory Services Inc. grew its stake in 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 valued at $134,000 after purchasing an additional 1,775 shares in the last quarter. Private Vista LLC grew its stake in 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 valued at $143,000 after purchasing an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Verizon Communications in the second quarter valued at approximately $156,000. Finally, Regal Wealth Group Inc. grew its stake in 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 valued at $164,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.
A number of research analysts have weighed in on the company. Vetr downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price target for the company. in a research note on Tuesday. HSBC upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Wednesday, March 28th. Guggenheim assumed coverage on Verizon Communications in a research note on Tuesday, March 13th. They issued a “buy” rating and a $58.00 price target for the company. Zacks Investment Research downgraded 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 investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company. Verizon Communications currently has a consensus rating of “Hold” and an average target price of $54.24.
NYSE:VZ opened at $47.48 on Friday. The company has a market cap of $197,853.31, a P/E ratio of 12.70, a PEG ratio of 1.95 and a beta of 0.64. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.77.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion for 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 business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. equities research analysts forecast that Verizon Communications will post 4.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.36 annualized dividend and a yield of 4.97%. Verizon Communications’s payout ratio is currently 63.10%.
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 stock was 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 approximately $799,738.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.
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Verizon Communications Company 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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