Berkshire Asset Management LLC PA raised its holdings in Verizon Communications (NYSE:VZ) by 66.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,546 shares of the cell phone carrier’s stock after buying an additional 8,997 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Verizon Communications were worth $1,193,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Advisors LLC acquired a new position in shares of Verizon Communications in the 3rd quarter valued at approximately $132,000. Shine Investment Advisory Services Inc. raised its position in shares of Verizon Communications by 190.9% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after acquiring an additional 1,775 shares in the last quarter. Private Vista LLC raised its position in shares of Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications during the 2nd quarter valued at approximately $156,000. Finally, Regal Wealth Group Inc. raised its position in shares of Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares in the last quarter. Institutional investors own 64.00% of the company’s stock.
Shares of NYSE:VZ traded down $0.76 during trading on Friday, hitting $47.48. 16,071,594 shares of the stock were exchanged, compared to its average volume of 13,778,864. 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 firm has a market capitalization of $195,995.72, a PE ratio of 12.70, a PEG ratio of 1.93 and a beta of 0.64. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.77.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The company had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. Verizon Communications’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. sell-side analysts predict that Verizon Communications will post 4.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a $0.59 dividend. 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 63.10%.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction on Tuesday, February 13th. The stock was 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 approximately $799,738.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.
Several brokerages have weighed in on VZ. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 target price on the stock. in a research report on Tuesday, April 3rd. 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. SunTrust Banks raised their target price on Verizon Communications to $58.00 and gave the company 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 cut 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 given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $54.24.
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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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