Mutual Advisors LLC acquired a new stake in Verizon Communications (NYSE:VZ) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 25,436 shares of the cell phone carrier’s stock, valued at approximately $1,346,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sawgrass Asset Management LLC grew its position in shares of Verizon Communications by 54.7% during the 4th quarter. Sawgrass Asset Management LLC now owns 1,305,977 shares of the cell phone carrier’s stock worth $69,125,000 after buying an additional 461,757 shares during the period. West Chester Capital Advisors Inc. acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $1,471,000. State of Tennessee Treasury Department grew its position in shares of Verizon Communications by 24.6% during the 4th quarter. State of Tennessee Treasury Department now owns 2,631,941 shares of the cell phone carrier’s stock worth $139,309,000 after buying an additional 520,417 shares during the period. Stelac Advisory Services LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $111,000. Finally, First Republic Investment Management Inc. grew its position in shares of Verizon Communications by 14.3% during the 4th quarter. First Republic Investment Management Inc. now owns 1,434,844 shares of the cell phone carrier’s stock worth $75,946,000 after buying an additional 179,908 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.
Shares of Verizon Communications opened at $47.86 on Thursday, according to Marketbeat.com. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.94 and a current ratio of 0.98. Verizon Communications has a twelve month low of $47.65 and a twelve month high of $48.02. The company has a market capitalization of $200.16 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.94 and a beta of 0.62.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.06. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The firm had revenue of $31.77 billion for the quarter, compared to analyst estimates of $31.25 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. analysts anticipate that Verizon Communications will post 4.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Monday, April 9th. Verizon Communications’s payout ratio is currently 63.10%.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of Verizon Communications stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total value of $97,594.56. Following the transaction, the senior vice president now owns 16,060 shares of the company’s stock, valued at $794,006.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.
Several equities research analysts have recently commented on the stock. SunTrust Banks lifted their price target on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price target for the company. in a research report on Tuesday, April 3rd. William Blair reiterated a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, April 25th. JPMorgan Chase lifted their price target on shares of Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $54.75.
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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