Weatherly Asset Management L. P. raised its position in shares of Verizon Communications (NYSE:VZ) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,304 shares of the cell phone carrier’s stock after purchasing an additional 1,885 shares during the period. Weatherly Asset Management L. P.’s holdings in Verizon Communications were worth $2,716,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. P.A.W. Capital Corp increased its holdings in shares of Verizon Communications by 13.3% in the 4th quarter. P.A.W. Capital Corp now owns 17,000 shares of the cell phone carrier’s stock valued at $900,000 after acquiring an additional 2,000 shares during the period. Vigilant Capital Management LLC increased its holdings in shares of Verizon Communications by 47.3% in the 4th quarter. Vigilant Capital Management LLC now owns 23,442 shares of the cell phone carrier’s stock valued at $1,241,000 after acquiring an additional 7,525 shares during the period. DT Investment Partners LLC increased its holdings in shares of Verizon Communications by 10.3% in the 4th quarter. DT Investment Partners LLC now owns 72,798 shares of the cell phone carrier’s stock valued at $3,853,000 after acquiring an additional 6,774 shares during the period. Northstar Investment Advisors LLC increased its holdings in shares of Verizon Communications by 11.7% in the 4th quarter. Northstar Investment Advisors LLC now owns 152,225 shares of the cell phone carrier’s stock valued at $8,057,000 after acquiring an additional 15,997 shares during the period. Finally, Ballew Advisors Inc purchased a new position in shares of Verizon Communications in the 4th quarter valued at $233,000. 64.00% of the stock is owned by institutional investors and hedge funds.
Verizon Communications stock opened at $47.48 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. The stock has a market cap 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 has a fifty-two week low of $42.80 and a fifty-two week high of $54.77.
Verizon Communications (NYSE:VZ) last posted 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 analysts’ expectations of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. 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. Shareholders of record on Tuesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date is Monday, April 9th. This represents a $2.36 annualized dividend and a yield of 4.97%. Verizon Communications’s payout ratio is presently 63.10%.
A number of research analysts have recently issued reports on the company. Bank of America lifted their price target on Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and cut their price target for the company from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target on the stock in a report on Monday, February 5th. Howard Weil upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 22nd. Finally, Guggenheim assumed coverage on Verizon Communications in a report on Tuesday, March 13th. They issued a “buy” rating and a $58.00 price target on the stock. One 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’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.24.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the sale, the senior vice president now owns 16,059 shares in the company, valued at approximately $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 currently owned by 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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