Ashfield Capital Partners LLC reduced its position in Verizon Communications (NYSE:VZ) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 39,156 shares of the cell phone carrier’s stock after selling 1,225 shares during the period. Ashfield Capital Partners LLC’s holdings in Verizon Communications were worth $2,073,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Exane Derivatives purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $103,000. Stelac Advisory Services LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $111,000. Delphi Private Advisors LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $141,000. Tower View Investment Management & Research LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $193,000. Finally, Riverbridge Partners LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $201,000. 63.81% of the stock is owned by hedge funds and other institutional investors.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of the business’s stock in a transaction 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 in the company, valued at approximately $794,006.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.
Shares of Verizon Communications opened at $48.81 on Wednesday, Marketbeat.com reports. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $54.77. The company has a current ratio of 0.98, a quick ratio of 0.94 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $197.07 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.91 and a beta of 0.62.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, topping analysts’ consensus estimates 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 business posted $0.95 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. sell-side analysts forecast that Verizon Communications will post 4.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were issued a $0.59 dividend. The ex-dividend date was Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.84%. Verizon Communications’s dividend payout ratio is currently 63.10%.
VZ has been the subject of several research reports. William Blair reissued a “market perform” rating on shares of Verizon Communications in a research note on Wednesday, April 25th. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Tuesday, February 13th. Vetr lowered 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. SunTrust Banks upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, April 25th. They noted that the move was a valuation call. Finally, Macquarie restated a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. Verizon Communications currently has a consensus rating of “Buy” and a consensus price target 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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