Cypress Asset Management Inc. TX lessened its stake in Verizon Communications (NYSE:VZ) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 116,985 shares of the cell phone carrier’s stock after selling 7,650 shares during the quarter. Verizon Communications makes up approximately 1.3% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 24th biggest holding. Cypress Asset Management Inc. TX’s holdings in Verizon Communications were worth $6,192,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Beach Investment Management LLC. bought a new stake in Verizon Communications during the 2nd quarter valued at $4,320,000. QCI Asset Management Inc. NY raised its holdings in Verizon Communications by 3.1% during the 2nd quarter. QCI Asset Management Inc. NY now owns 312,897 shares of the cell phone carrier’s stock valued at $13,974,000 after acquiring an additional 9,366 shares during the period. Evergreen Capital Management LLC raised its holdings in Verizon Communications by 5.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 57,902 shares of the cell phone carrier’s stock valued at $2,586,000 after acquiring an additional 3,250 shares during the period. Homrich & Berg raised its holdings in Verizon Communications by 11.5% during the 2nd quarter. Homrich & Berg now owns 46,965 shares of the cell phone carrier’s stock valued at $2,097,000 after acquiring an additional 4,848 shares during the period. Finally, Motco raised its holdings in Verizon Communications by 3.1% during the 2nd quarter. Motco now owns 84,275 shares of the cell phone carrier’s stock valued at $3,764,000 after acquiring an additional 2,514 shares during the period. 64.00% of the stock is currently owned by institutional investors.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly 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 can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on the stock. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 target price on the stock. in a report on Tuesday, April 3rd. Guggenheim assumed coverage on shares of Verizon Communications in a report on Tuesday, March 13th. They set a “buy” rating and a $58.00 target price on the stock. SunTrust Banks boosted their target price on shares of Verizon Communications to $58.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Macquarie reissued a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a report on Wednesday, January 24th. Finally, Zacks Investment Research cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, March 12th. One equities research 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 presently has a consensus rating of “Hold” and a consensus target price of $54.24.
Shares of NYSE:VZ opened at $47.48 on Monday. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.77. The firm 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 quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. sell-side analysts predict that Verizon Communications will post 4.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors 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 dividend payout ratio (DPR) is presently 63.10%.
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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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