American Asset Management Inc. raised its holdings in Verizon Communications (NYSE:VZ) by 12.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,146 shares of the cell phone carrier’s stock after purchasing an additional 1,615 shares during the quarter. Verizon Communications accounts for about 0.5% of American Asset Management Inc.’s holdings, making the stock its 17th biggest position. American Asset Management Inc.’s holdings in Verizon Communications were worth $749,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Vantage Financial Partners Ltd. Inc. acquired a new position in Verizon Communications in the 2nd quarter valued at $623,000. Shine Investment Advisory Services Inc. increased its holdings 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 worth $134,000 after buying an additional 1,775 shares during the last quarter. Legacy Advisors LLC acquired a new stake in shares of Verizon Communications during the 3rd quarter worth $132,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications during the 2nd quarter worth $156,000. Finally, Regal Wealth Group Inc. increased its holdings 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 worth $164,000 after buying an additional 24 shares during the last quarter. 64.00% of the stock is currently owned by institutional investors.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the 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 completion of 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.
Shares of NYSE:VZ traded down $0.76 during trading hours on Friday, hitting $47.48. The stock had a trading volume of 16,071,594 shares, compared to its average volume of 13,778,864. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.77. The firm has a market capitalization of $195,995.72, a P/E ratio of 12.70, a PEG ratio of 1.93 and a beta of 0.64. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.20 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. analysts predict that Verizon Communications will post 4.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio is 63.10%.
A number of analysts have recently commented on the company. Vetr downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price objective for the company. in a report on Tuesday, April 3rd. HSBC upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, March 28th. Guggenheim assumed coverage on Verizon Communications in a report on Tuesday, March 13th. They set a “buy” rating and a $58.00 price objective for the company. Zacks Investment Research downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Finally, Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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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