F&V Capital Management LLC lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,592 shares of the cell phone carrier’s stock after selling 1,144 shares during the quarter. Verizon Communications accounts for 5.1% of F&V Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. F&V Capital Management LLC’s holdings in Verizon Communications were worth $9,369,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Kanawha Capital Management LLC lifted its holdings in shares of Verizon Communications by 0.8% in the 2nd quarter. Kanawha Capital Management LLC now owns 167,032 shares of the cell phone carrier’s stock worth $9,543,000 after buying an additional 1,338 shares during the period. Arjuna Capital lifted its holdings in shares of Verizon Communications by 2.6% in the 2nd quarter. Arjuna Capital now owns 42,965 shares of the cell phone carrier’s stock worth $2,455,000 after buying an additional 1,082 shares during the period. Pictet Asset Management Ltd. lifted its holdings in shares of Verizon Communications by 8.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,132,673 shares of the cell phone carrier’s stock worth $236,100,000 after buying an additional 319,822 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Verizon Communications in the 2nd quarter worth $4,247,000. Finally, ETF Managers Group LLC purchased a new stake in shares of Verizon Communications in the 2nd quarter worth $212,000. Institutional investors own 65.25% of the company’s stock.
In related news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $60.42, for a total transaction of $81,506.58. Following the transaction, the executive vice president now directly owns 19,983 shares of the company’s stock, valued at approximately $1,207,372.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig L. Silliman sold 1,346 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the transaction, the executive vice president now directly owns 18,637 shares in the company, valued at $1,109,833.35. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.
Several brokerages have weighed in on VZ. SunTrust Banks upped their target price on Verizon Communications from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Moffett Nathanson set a $57.00 target price on Verizon Communications and gave the stock a “hold” rating in a report on Friday, October 25th. Zacks Investment Research cut Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a report on Saturday, January 11th. HSBC cut Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Thursday, November 14th. Finally, New Street Research reiterated a “buy” rating on shares of Verizon Communications in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. Verizon Communications currently has a consensus rating of “Hold” and a consensus target price of $63.44.
VZ opened at $59.10 on Thursday. The firm has a market cap of $243.97 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.71 and a beta of 0.51. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. Verizon Communications Inc. has a 12 month low of $52.28 and a 12 month high of $62.22. The stock has a fifty day moving average price of $60.64 and a 200-day moving average price of $59.01.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The firm had revenue of $32.89 billion during the quarter, compared to analyst estimates of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Thursday, January 9th. Verizon Communications’s payout ratio is 52.23%.
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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
Read More: Differences Between Momentum Investing and Long Term Investing
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 Inc. (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.