Fiduciary Financial Services of The Southwest Inc. TX cut its holdings in shares of Verizon Communications (NYSE:VZ) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,062 shares of the cell phone carrier’s stock after selling 7,394 shares during the quarter. Fiduciary Financial Services of The Southwest Inc. TX’s holdings in Verizon Communications were worth $4,079,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Beach Investment Management LLC. acquired a new position in shares of Verizon Communications in the second quarter valued at $4,320,000. QCI Asset Management Inc. NY raised its stake in shares of Verizon Communications by 3.1% in the second quarter. QCI Asset Management Inc. NY now owns 312,897 shares of the cell phone carrier’s stock valued at $13,974,000 after purchasing an additional 9,366 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Verizon Communications by 5.9% in the second quarter. Evergreen Capital Management LLC now owns 57,902 shares of the cell phone carrier’s stock valued at $2,586,000 after purchasing an additional 3,250 shares in the last quarter. Homrich & Berg raised its stake in shares of Verizon Communications by 11.5% in the second quarter. Homrich & Berg now owns 46,965 shares of the cell phone carrier’s stock valued at $2,097,000 after purchasing an additional 4,848 shares in the last quarter. Finally, Motco raised its stake in shares of Verizon Communications by 3.1% in the second quarter. Motco now owns 84,275 shares of the cell phone carrier’s stock valued at $3,764,000 after purchasing an additional 2,514 shares in the last quarter. Institutional investors own 64.00% of the company’s stock.
Shares of VZ 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 firm has a market cap of $199,132.98, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.96 and a beta of 0.64. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.77.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). The business 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 revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. equities analysts predict that Verizon Communications will post 4.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Monday, April 9th. Verizon Communications’s payout ratio is presently 63.10%.
A number of research analysts recently commented on VZ shares. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. Instinet upped their target price on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. HSBC cut Verizon Communications from a “buy” rating to a “hold” rating and lowered their price target for the company from $54.83 to $42.80 in a research report on Thursday, December 14th. They noted that the move was a valuation call. KeyCorp upped their price target on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research report on Tuesday, January 2nd. Finally, Moffett Nathanson cut Verizon Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $54.24.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction 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 sale, the senior vice president now owns 16,059 shares in the company, valued at $799,738.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: “Verizon Communications (VZ) Shares Sold by Fiduciary Financial Services of The Southwest Inc. TX” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/04/08/verizon-communications-vz-shares-sold-by-fiduciary-financial-services-of-the-southwest-inc-tx.html.
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.
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications (NYSE:VZ).
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.