Capital Analysts LLC reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 70,036 shares of the cell phone carrier’s stock after selling 167 shares during the period. Verizon Communications comprises about 0.7% of Capital Analysts LLC’s holdings, making the stock its 26th largest position. Capital Analysts LLC’s holdings in Verizon Communications were worth $3,739,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in VZ. Williams Jones & Associates LLC increased its position in Verizon Communications by 22.8% in the second quarter. Williams Jones & Associates LLC now owns 101,691 shares of the cell phone carrier’s stock valued at $5,678,000 after buying an additional 18,879 shares during the period. Carnick & Kubik Group LLC bought a new position in Verizon Communications during the second quarter valued at approximately $701,000. Macquarie Group Ltd. increased its position in Verizon Communications by 4.9% in the second quarter. Macquarie Group Ltd. now owns 14,029,001 shares of the cell phone carrier’s stock valued at $783,379,000 after buying an additional 650,267 shares during the period. Evercore Wealth Management LLC increased its position in Verizon Communications by 6.2% in the second quarter. Evercore Wealth Management LLC now owns 64,080 shares of the cell phone carrier’s stock valued at $3,578,000 after buying an additional 3,740 shares during the period. Finally, Bath Savings Trust Co increased its position in Verizon Communications by 0.4% in the third quarter. Bath Savings Trust Co now owns 30,677 shares of the cell phone carrier’s stock valued at $1,594,000 after buying an additional 117 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 50.24 on Tuesday. The stock has a market capitalization of $204.81 billion, a price-to-earnings ratio of 15.65 and a beta of 0.43. The company has a 50-day moving average of $49.26 and a 200-day moving average of $50.48. Verizon Communications Inc. has a 1-year low of $46.01 and a 1-year high of $56.95.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, January 24th. The cell phone carrier reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by $0.03. The firm earned $32.30 billion during the quarter, compared to analysts’ expectations of $32.12 billion. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post $3.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Thursday, April 6th. Verizon Communications’s dividend payout ratio (DPR) is presently 71.74%.
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VZ has been the topic of several research analyst reports. Vetr downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $52.38 target price on the stock. in a report on Wednesday, December 7th. Jefferies Group LLC restated a “hold” rating and issued a $53.00 price target on shares of Verizon Communications in a research report on Friday, December 16th. Citigroup Inc upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.25 to $53.38 in a research report on Tuesday, January 3rd. Drexel Hamilton cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, January 6th. Finally, BTIG Research restated a “neutral” rating on shares of Verizon Communications in a research report on Thursday, January 12th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $54.53.
In related news, EVP Roger Gurnani sold 10,804 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $50.29, for a total transaction of $543,333.16. Following the completion of the sale, the executive vice president now directly owns 63,734 shares of the company’s stock, valued at approximately $3,205,182.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Anthony T. Skiadas sold 12,495 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $48.27, for a total value of $603,133.65. Following the sale, the senior vice president now directly owns 16,058 shares of the company’s stock, valued at $775,119.66. The disclosure for this sale can be found here. Insiders sold a total of 55,553 shares of company stock valued at $2,756,586 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.
Verizon Communications Company Profile
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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