Wellington Shields & Co. LLC Decreases Stake in Verizon Communications (VZ)

Wellington Shields & Co. LLC lowered its stake in shares of Verizon Communications (NYSE:VZ) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,448 shares of the cell phone carrier’s stock after selling 1,837 shares during the quarter. Verizon Communications makes up approximately 1.2% of Wellington Shields & Co. LLC’s holdings, making the stock its 24th largest position. Wellington Shields & Co. LLC’s holdings in Verizon Communications were worth $2,141,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new position in Verizon Communications during the 2nd quarter valued at approximately $623,000. Exane Derivatives acquired a new position in Verizon Communications during the 4th quarter valued at approximately $103,000. IFG Advisory LLC acquired a new position in Verizon Communications during the 4th quarter valued at approximately $2,055,000. Delphi Private Advisors LLC acquired a new position in Verizon Communications during the 4th quarter valued at approximately $141,000. Finally, Shine Investment Advisory Services Inc. boosted its position in 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 purchasing an additional 1,775 shares during the period. Institutional investors and hedge funds own 64.04% of the company’s stock.

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In other news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s 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 sale, the senior vice president now owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

VZ opened at $49.67 on Wednesday. Verizon Communications has a one year low of $42.80 and a one year high of $54.77. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $197,729.47, a PE ratio of 13.28, a PEG ratio of 1.94 and a beta of 0.64.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.06. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company had revenue of $31.77 billion for the quarter, compared to the consensus estimate of $31.25 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. research analysts forecast 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. Stockholders 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 dividend yield of 4.75%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio is presently 63.10%.

A number of research analysts recently issued reports on VZ shares. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, January 22nd. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday, February 13th. Scotia Howard Weill raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, January 22nd. Vetr downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 target price on the stock. in a research note on Tuesday, April 3rd. Finally, Moffett Nathanson downgraded Verizon Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $55.19.

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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.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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