Northwest Quadrant Wealth Management LLC trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,515 shares of the cell phone carrier’s stock after selling 988 shares during the period. Northwest Quadrant Wealth Management LLC’s holdings in Verizon Communications were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC bought a new position in Verizon Communications during the 2nd quarter valued at $28,000. Lenox Wealth Advisors LLC purchased a new position in Verizon Communications during the 3rd quarter worth $39,000. Advocacy Wealth Management Services LLC grew its stake in shares of Verizon Communications by 35.8% in the 3rd quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock worth $41,000 after acquiring an additional 181 shares in the last quarter. Fulcrum Equity Management bought a new stake in shares of Verizon Communications in the 3rd quarter worth $48,000. Finally, WealthStone Inc. bought a new stake in shares of Verizon Communications in the 2nd quarter worth $45,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Craig L. Silliman sold 1,346 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total transaction of $80,154.30. Following the completion of the transaction, the executive vice president now owns 18,637 shares in the company, valued at approximately $1,109,833.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $60.42, for a total value of $81,506.58. Following the completion of the sale, the executive vice president now directly owns 19,983 shares of the company’s stock, valued at approximately $1,207,372.86. The disclosure for this sale can be found here. 0.03% of the stock is owned by insiders.
A number of research analysts recently weighed in on the stock. Moffett Nathanson set a $57.00 price target on shares of Verizon Communications and gave the company a “hold” rating in a research report on Friday, October 25th. SunTrust Banks upped their price objective on shares of Verizon Communications from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. ValuEngine upgraded shares of Verizon Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Nomura lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $65.00 in a research note on Monday, November 4th. Finally, Guggenheim lifted their target price on shares of Verizon Communications from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $63.41.
Shares of NYSE:VZ opened at $60.32 on Wednesday. The company’s 50-day moving average is $60.63 and its 200 day moving average is $59.10. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market capitalization of $248.68 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 3.78 and a beta of 0.51. Verizon Communications Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $62.22.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. The company had revenue of $32.89 billion during the quarter, compared to analyst estimates of $32.74 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts predict that Verizon Communications Inc. will post 4.83 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Thursday, January 9th. Verizon Communications’s payout ratio is 52.23%.
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; 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.
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