Carroll Financial Associates Inc. lifted its holdings in Verizon Communications (NYSE:VZ) by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 34,354 shares of the cell phone carrier’s stock after buying an additional 1,329 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Verizon Communications were worth $1,818,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Legacy Advisors LLC bought a new position in shares of Verizon Communications in the 3rd quarter worth about $132,000. Shine Investment Advisory Services Inc. increased its holdings in shares of Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after acquiring an additional 1,775 shares during the period. Private Vista LLC increased its holdings in shares of Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after acquiring an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications in the 2nd quarter worth about $156,000. Finally, Regal Wealth Group Inc. increased its holdings in shares of Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the period. Institutional investors own 64.00% of the company’s stock.
VZ has been the topic of a number of analyst reports. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, January 22nd. Scotia Howard Weill raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 22nd. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, February 13th. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price objective on the stock. in a report on Tuesday, April 3rd. Finally, Moffett Nathanson cut shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the stock. Verizon Communications has an average rating of “Hold” and a consensus price target of $54.24.
Shares of VZ traded down $0.76 during mid-day trading on Friday, hitting $47.48. The company’s stock had a trading volume of 16,071,594 shares, compared to its average volume of 13,778,864. The stock has a market capitalization of $195,995.72, a P/E ratio of 12.70, a P/E/G ratio of 1.93 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 has a fifty-two week low of $42.80 and a fifty-two week high of $54.77.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The business 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 business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. equities research analysts forecast that Verizon Communications will post 4.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.97%. Verizon Communications’s dividend payout ratio is currently 63.10%.
In other 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 transaction, the senior vice president now owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
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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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