Hennessy Advisors Inc. Has $13.98 Million Stake in Verizon Communications Inc. (VZ)

Hennessy Advisors Inc. lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 264,150 shares of the cell phone carrier’s stock after acquiring an additional 1,450 shares during the period. Hennessy Advisors Inc.’s holdings in Verizon Communications were worth $13,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Advisors LLC acquired a new stake in Verizon Communications in the 3rd quarter valued at $132,000. Shine Investment Advisory Services Inc. grew its stake in Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after acquiring an additional 1,775 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in Verizon Communications in the 2nd quarter valued at $156,000. Regal Wealth Group Inc. grew its stake in Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares during the period. Finally, Atlantic Trust LLC grew its stake in Verizon Communications by 9.9% in the 2nd quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock valued at $170,000 after acquiring an additional 1,005 shares during the period. 63.98% of the stock is currently owned by institutional investors and hedge funds.

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In other news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the transaction, the senior vice president now owns 16,059 shares in the company, valued at approximately $799,738.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

VZ stock opened at $46.29 on Friday. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.77. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $195,170.13, a price-to-earnings ratio of 6.29, a PEG ratio of 1.92 and a beta of 0.68.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. research analysts expect that Verizon Communications Inc. will post 4.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 5.10%. Verizon Communications’s dividend payout ratio is presently 32.07%.

A number of equities research analysts recently issued reports on VZ shares. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, January 22nd. Scotia Howard Weill raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, January 22nd. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Tuesday, February 13th. Moffett Nathanson lowered Verizon Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 16th. Finally, Instinet raised their price objective on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $53.66.

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Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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